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, 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.
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.
Oman Air Chief Executive Officer Wayne Pearce said he’s leaving the carrier so that a successor can manage a two-year fleet upgrade that will boost capacity almost 50 percent, and is considering new posts in the industry.
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.
Deutsche Lufthansa AG and Air France-KLM Group, absorbed with plans to end short-haul losses, saw their lead in European aviation slip last year as British Airways owner IAG SA bulked up by extending a takeover spree.
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.
London’s Heathrow airport extended its lead as Europe’s busiest hub last year after welcoming larger aircraft, as Paris, Frankfurt and Amsterdam saw their positions challenged by rapid growth at Istanbul Ataturk.