Turkish Airlines chief is looking at buying stakes in airlines across India, China and the US. Speaking to reporters last month, the airline’s CEO Ilker Ayci mentioned he is looking at investing in equity stakes in airlines as a way to offset potential shocks from growing protectionism.
“We have grown organically so far, but politicians are increasingly struggling for protectionism,” Ayci was quoted to say. “This is why we are investigating investment opportunities in other airlines with equity or as a non-equity partner. This is a long-term strategy and it is too early to say whether it becomes a reality,” he said.
Reports have mentioned Turkish Airlines is eyeing a stake in Italy’s troubled carrier Alitalia which is backed by Etihad. However, Ayci said he is averse to investing in weaker airlines.
Earlier this year Turkish Airlines signed an agreement with the government of Albania to create a joint venture and set up a new carrier to operate out of the country.
“We will do our best, with all the accumulated experience we have as a company, to share it with our Albanian friends and brothers. We are proceeding with great speed to take all the necessary steps for the realization of this project as soon as possible,” Ayci during a press conference at the announcement.