Turkey: Czech Airlines privatisation interesting for Turkish Airlines
According to an article in Austrian daily Wirtschaftsblatt, Turkish Airlines is among the parties interested in the upcoming privatization of Czech Airlines. Other interested airlines are said to be Air France KLM, Etihad Airways and Korean Air.
From time to time, we come across such news items whenever a state airline is said to be subject to a sale and Turkish Airlines, somehow, is always among the interested parties, but we have never witnessed the finalization of such deals. We reiterate our view that we do not favor inorganic growth alternatives for Turkish Airlines (unless at extremely low prices), while the company continues its organic growth. Meanwhile, we expect no major impact from this development on the share price, as such rumors were already circulating in the beginning of 2012.