Exclusive: Turkey's Wealth Fund in talks to support hard-hit Turkish Airlines - sources
Reuters
Published Oct 02, 2020 07:26
By Ebru Tuncay, Birsen Altayli and Orhan Coskun
ISTANBUL (Reuters) - Turkey's Wealth Fund is in talks to provide emergency funding to flag carrier Turkish Airlines (IS:THYAO), one of the country's hardest-hit companies when the coronavirus pandemic halted nearly all flights, four sources told Reuters.
The sources close to the matter said the company, which flies to more destinations worldwide than any other airline, could receive capital or financing support as part of the programme, though nothing had yet been finalised.
It was unclear how much funding the sovereign wealth fund (TVF) could make available in what one source called a "bailout". TVF declined to comment on the matter, while Turkish Airlines did not immediately comment.
($1 = 7.7695 liras)
Get The App
Written By: Reuters
Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.