Turkish Airlines announced (01-Jun-2012) it decided to terminate its participation in LOT Polish Airlines' privatisation process which it has been involved in since Jan-2012. Turkish Airlines previously considered taking a significant stake in the carrier. The airline stated "it was decided that Europe's long-established airlines, operating under the commercial and strategic rules of the European Union, have foreign ownership and management restrictions, as well as overlapping administrative structures that would inhibit maximisation of Turkish Airline's shareholder value and would not bring the medium to long-term growth that was initially envisioned." The airline stated it intends to continue to look at other investment opportunities as they arise. [more - original PR]
Turkish Airlines decides to terminate participation in LOT privatisation process
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A series of geopolitical events has weighed heavily on demand for air travel in Turkey, particularly in international travel. Weak trading conditions have also prompted the market leaders – national airline Turkish Airlines and LCC Pegasus – to halt their own rapid growth. Onur Air is bigger in the domestic market than it is in the international market, but much of its 2016 expansion was driven by international growth, particularly to Germany.
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