Israeli leisure operator Israir Group is expecting to learn more about the status of its bid for Czech carrier Smartwings in the second half of January.

Israir Group submitted a formal proposal to acquire Smartwings last year.

It has yet to confirm whether its offer – which included a takeover sum, plus settlement of loans – has been successful.

Israir Group says Smartwings operated around 33 aircraft last year and carried some 6 million passengers. It adds that acquisition of the airline would add “great value” to its activities, but estimates its chances of a successful bid at 50%.

The company provided the brief remarks on the process as part of a financial update after a 19.9% shareholding in Israir Group – held by trustees associated with former holding firm IDB – became the subject of a potential sale.

Israir Group’s update includes estimates of its 2022 full-year performance including $14-17 million in net profit on revenues of $345-350 million.

Israir A320-c-Israir Group

Source: Israir Group

Israir believes the acquisition of Smartwings will enhance its activity