Istanbul’s Ataturk airport lured more travelers than Frankfurt and Amsterdam in the first quarter, setting the Turkish Airlines base on course to establish itself as Europe’s third-busiest air hub this year.
Turkish Airlines, whose advertisements feature sports stars including Lionel Messi and Kobe Bryant, is turning to U.S. investors to help finance plans to double the number of passengers it carries by 2020.
Asya Katilim Bankasi AS, the Istanbul-based lender caught in a feud between the government and an Islamic movement, fell to its lowest in more than three weeks as Turkish Airlines said it was no longer using the bank.
Turkish Airlines has hired Goldman Sachs Group Inc. and Citigroup Inc. to sell debt backed by aircraft as it builds a fleet capable of taking on Europe’s leading carriers, three people familiar with the plan said.
Turkish Airlines urged Star Alliance partner Deutsche Lufthansa AG to review plans to pare passenger rewards from code-share flights to German destinations, as the two airlines fight for customers in Europe’s largest economy.
Turkish Airlines staff will strike by May 23 if demands regarding pay and working hours aren’t met, according to the Hava-Is union, which says 212 jet orders in four weeks show the carrier has the means to improve conditions.
Turkish Airlines, which will more than double its fleet by the start of next decade, said it’s delaying a possible order for jumbo jets for at least two years as it focuses on expanding its network with smaller airliners.
Deutsche Lufthansa AG may seek deeper ties with Turkish Airlines to thwart competition from Gulf rivals and match European peers that already have Mideast partnerships, analysts said after Turkish media reports of talks on a merger.
Turk Hava Yollari AO, the flag carrier known as Turkish Airlines, plans to buy as many as 20 777-300ER wide-body aircraft from Boeing Co. as part of an effort to expand its transfer traffic in Europe and Asia.
Turk Hava Yollari AO or Turkish Airlines, the national carrier, will beef up long-haul routes and is considering strategic acquisition opportunities including Serbian Airlines, Chief Executive Officer Temel Kotil said.