Turkish Airline Declares Formal Bankruptcy After 24 Years of Operations
Official liquidation procedures for the company have begun, drawing a line under decades of activity in the Turkish aviation sector.
A Turkish airline has announced its formal bankruptcy after 24 years in the air transport sector, entering an official liquidation phase that will determine the fate of its assets and its obligations to creditors and employees.
The move comes amid escalating economic pressures on the aviation sector at both global and regional levels, as numerous carriers have found themselves facing severe challenges including rising operational costs, soaring fuel prices, and intense market competition.
The bankruptcy announcement marks the end of a long chapter for a company that managed to survive for more than two decades before losses mounted and it became unable to continue. In the coming period, the competent authorities will work to complete liquidation procedures and settle the rights owed to all concerned parties in accordance with the legal frameworks in force in Turkey.
Sources — how we know this
- PrimarySözcü Gazetesi