Pegasus Hava Tasimaciligi Anonim Sirketi (IBSE:PGSUS) reached an agreement to acquire 29.51% stake in IZair from Air Berlin PLC (XTRA:AB1) for €1.2 million on March 9, 2017. Under this transaction, After the transaction, Pegasus Hava is acquiring 1.8 billion shares of IZair. Pegasus's share in IzAir will increase to 98.63% and agreements on "Air Berlin Turkey Project" will be terminated.

This transaction is subject to the the approvals from the General Directorate of Turkish Civil Aviation and the competent competition authorities.