THY shares transferred to sovereign wealth fund

Eleanor Steed
By Eleanor Steed February 9, 2017 11:39

THY shares transferred to sovereign wealth fund

Turkish Airlines has confirmed that the transfer of the government’s 49.12% share in the airline to a newly-formed sovereign wealth fund will not affect the operation of the company.

“This transfer will not cause any changes in the company’s current management, business strategies, policies and operation decisions,” the flag carrier said in a stock exchange statement.

At the same time the government’s 51.11 percent stake in state bank Halkbank was also transferred to the fund.

Eleanor Steed
By Eleanor Steed February 9, 2017 11:39