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Turkish Airlines is getting stronger and is restoring wages to its employees. It has also received financing from US-based Castlelake backed by four new Boeing 737 MAX aircraft.
Turkish Airlines, just like any other airline, was hit hard by the pandemic and had to cut wages in 2020. The wages were reduced by 30% for ground employees, 35% for cabin employees, 50% for cockpit employees, and 30% for seniority payments of other employees.
As the situation improves, the carrier says it will raise wages a minimum of 10% on top of the restored salary amounts.
“Our Board of Directors made an assessment taking into account the sacrifices made by our employees during the pandemic, the steps towards loosening pandemic restrictions in all countries, and the cautious optimism of the widespread vaccination practices developed against Covid-19, ” said the airline‘s representative.
Commenting on the recent funding Turkish Airlines received for Boeing 737 MAX aircraft, Ayşegül Denli, Turkish Airlines’ Senior Vice President Finance, said:
„This transaction with Castlelake allows us to optimally finance some of our newest, most in-demand aircraft and in doing so, execute on our strategic objectives. This is especially vital during this exciting time as international leisure and business travel recovers and we look forward to welcoming many passengers as they return to the skies.”