Turkish Airlines won't take a stake in LOT
Turkish Airlines has announced that it would not take a stake in the Polish Airlines LOT .
The Board of Directors has decided to no longer participate in the privatization process.
«It was decided that Europe's long-established airlines, operating under the commercial and strategic rules of the European Union, have foreign ownership and management restrictions, as well as overlapping administrative structures that would inhibit maximization of THY’s shareholder value and would not bring the medium-to long-term growth that was initially envisioned» explained Turkish Airlines.
The directions of the two companies were under discussion since January 2012.
Turkish Airlines will however continue to explore other growth opportunities the company said.
Nevertheless, Turkish Airlines continues to expand his network in Europe: Turkish Airlines has launched two new routes in Germany and Spain.