Czech airline Travel Service says it has acquired a majority stake in the national carrier, Czech Airlines, known as CSA.

Travel Service, the Czech Republic’s biggest carrier, says it has reached a deal with the Czech state and Korean Air to buy their CSA stakes.

Travel Service had a 34 percent stake, while Korean Air acquired a 44 percent share from the government in 2013. The government still had almost 20 percent.

The sale of the state’s stake still depends on approval by an anti-monopoly office.

The transaction gives Travel Service a 97.74 percent stake.

Travel Service operates regular flights under the name Smart Wings, as well as charter flights and private flights.

The CEFC China Energy Company has almost a 50 percent stake in the airline.

Copyright (2017) Associated Press. All rights reserved.

This article was from The Associated Press and was legally licensed through the NewsCred publisher network. Please direct all licensing questions to legal@newscred.com.

Photo Credit: Czech Airlines, known as CSA, debuted service between Prague and Verona earlier this year. Rival carrier Travel Service made a takeover bid. CSA