Turkish Airlines decides to terminate participation in LOT privatisation process

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]