Turkish Airlines to establish joint venture in Albania

ANKARA-Anadolu Agency

Turkey’s national flag carrier Turkish Airlines will establish a joint venture company in Albania, the airline said on Sept. 12.

In a statement sent to Turkey’s Public Disclosure Platform (KAP), Turkish Airlines said the new company will operate in the field of passenger and cargo transportation.

“The aforementioned company will be established with a capital of up to $30 million,” it said.

The flag carrier said the 49 percent, 41 percent and 10 percent stakes are being held respectively by Turkish Airlines, MDN Investment SHPK, and Albcontrol, which manages Albania’s airspace and air traffic, representing the Albanian government.

On Sept. 12, in another statement to KAP, Turkish Airlines announced its decision to start operating scheduled flights to Lusaka, the capital of Zambia.

The airline carried 43.2 million passengers from January to July this year, while carrying some 68.6 million passengers with a 79.1 percent seat occupancy rate in 2017.