Israir (6H, Tel Aviv Ben Gurion) subsidiary Israir Aviation and Tourism is seeking to purchase 50% in Larnaca-based MRO company Bird Aviation, a stock exchange filing revealed.

While the basic conditions of the transaction have been agreed upon, it still remains subject to a final agreement, Israir said. The carrier holding is purchasing the stake from Bird Aerosystems and the first stage of the transaction will encompass a 25% share in the Cypriot firm worth EUR2.75 million (USD2.96 million). The second stage will see Israir buy a 12.5% stake for around…

Source: ch aviation
Read more: Israir to buy 50% stake in MRO Bird Aviation