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Turkish Airlines to focus on organic growth but not ruling out acquisitions

15-Apr-2010 10:14 AM

Turkish Airlines CEO, Temel Kotil, stated the carrier would focus on organic growth to boost market share rather than acquiring a new airline (Reuters, 14-Apr-2010). However, he added that the carrier has not ruled out acquiring another carrier, such as JAT Airways or LOT Polish Airlines, as it seeks to become Europe’s third largest carrier. Mr Kotil also stated the carrier could report a 40% increase in transit passengers in 2010, adding that the carrier may revise its year-end targets in the coming months, following a strong first quarter. The target is for 30 million passengers and USD5.7 billion in revenue in 2010. The carrier added that while it has no plans for another large-scale aircraft order in 2010, "this doesn't mean that this won't change by the end of the year". The carrier has so far received 89 of a planned 105-aircraft order with Boeing and Airbus.

Turkish Airlines: "The statements regarding JAT and Polish Airlines say something positive about us. It's true that we can create a great synergy from a merger in that region. Right now we give more priority to organic growth but we are not closed to these other matters," Temel Kotil, CEO. Source: Reuters, 14-Apr-2010.