Turkey Plans $1.62B Airlines Stake Sale

The Turkish government is further seeking to sell its stake in Turkish Airlines (THY), Financial Times reports. The privatization agency shortlisted a consortia led by Citigroup, Credit Agricole, Goldman Sachs, HSBC, UniCredit and UBS as bidders last month.

The state has a 49% stake in the carrier worth around $1.62 billion, while foreign investors own around 30% of THY. The stake sale is a part government’s privatization program that includes sales of banks, power plants, toll roads and Istanbul’s fast ferry network.

Click here for the story from Financial Times.