The FINANCIAL — On 29 March 2009, Air Berlin PLC was informed that the Turkish ESAS Holding A.S. which, inter alia, operates Pegasus Airlines, on 28 March 2009, concluded a share purchase agreement for the acquisition of approximately 15 percent of the voting shares of Air Berlin PLC.
According to ESAS Holding, the execution of the share purchase agreement is subject to the approval of the German Federal Cartel Office. ESAS Holding A.S. will be represented on the Board of Air Berlin PLC with one Non-Executive Director.
With this share purchase agreement, Air Berlin PLC, Germany's second largest airline and the fifth-largest airline in Europe, has obtained a second new major shareholder, after, on 27 March 2009, a subsidiary of TUI Travel PLC had already acquired a minority interest not exceeding 20 percent, in the company. ESAS Holding A.S. now holds the majority of the equity stake previously owned by Len Blavatnik. At the beginning of January, Blavatnik had notified Air Berlin PLC that he had sold his shares.