Turkey Rules Out Privatization of Turkish Airlines Unit AJet [BNN Bloomberg (Canada)]
TURK HAVA YOLLAR UNSP/ADR (TKHVY)
NASDAQ:AMEX Investor Relations:
investor.turkishairlines.com/en
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Source: BNN Bloomberg
Uraloglu said in an interview that last year's decision to establish a new company for AJet and separate it from Turkish Airlines was driven by a plan to boost competitiveness, and not as a step toward privatization. “Turkish Airlines is already a globally recognized brand and Turkey's national flag carrier.” he said. “It holds significant value for the country, and there are no questions about it.” The creation of a distinct brand was intended to give AJet more operational flexibility, allowing it to tailor its services to budget-conscious travelers without being constrained by the broader objectives of its parent company, he said. There is no plan to sell the business, the minister said. AJet, formerly known as AnadoluJet, has carved out a significant share of Turkey's low-cost aviation market, which has become increasingly important as travelers look for more affordable options as domestic demand has been growing over the years. ©2024 Bloomberg L.P.
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