Turkey's flag-carrier airlines rejects news reports over negotiations with Spanair

Tuesday, June 7, 2011

ISTANBUL- Hürriyet Daily News

Turkey's national air carrier, Turkish Airlines, or THY, has denied that it was holding talks with Spanair to acquire minority ownership in the Spanish low-cost carrier.

"Contrary to what has appeared in the press, there are no negotiations with Spanair nor any decisions made by THY executive board for that matter," THY said in a regulatory filing on Wednesday.

Citing sources close to the issue, Spanish daily Expansion alleged that THY was interested in buying up to 49 percent of the shares in Spanair.

Based in Istanbul, THY is one of the fastest growing airline companies in the world.

With direct flights to 137 international and 41 domestic destinations as of March, THY is a Star Alliance member and carries approximately 25 million passengers a year.

The company posted 286 million Turkish Liras in net profit in 2010.

Turkish Airlines rejects news reports over Spanair

Turkey's national air carrier, the Turkish Airlines (THY), has denied that it was holding talks with Spanair to acquire the minority ownership in the Spanish low-cost carrier.

"Contrary to what has appeared in the press, there are no negotiations with the Spanair nor any decisions made by THY executive board for that matter," the THY said in a regulatory filing on Wednesday.

Citing sources close to the issue, Spanish daily Expansion has alleged the Turkish Airlines was interested in buying up to 49 percent shares of the Spanair.

Based in Istanbul, THY is one of the fastest growing airline companies in the world.

With direct flights to 137 international and 41 domestic destinations as of March 2011, THY is a Star Alliance member and carries approximately 25 million passengers a year.

The company posted 286 million Turkish lira net profit in 2010.

AA