Turkish takeover rumoured

Another EX-YU airline for Turkish Airlines’ collection?

Yet another takeover in the EX-YU region, orchestrated by Turkish Airlines, is being rumoured. Croatian media report that the Turkish national carrier is interested in purchasing the struggling Croatia Airlines, its Star Alliance partner. Srećko Šimeunović, the head of Croatia Airlines marketing, says that he is unaware of any interest on Turkish Airlines’ behalf because it hasn’t been decided whether the airline will be privatised but adds that any interest on Turkish’ behalf show that Croatia Airlines has value. Speaking to the “Večernji list”, Šimeunović says that Croatia Airlines is reporting financial losses and therefore plans to cut its work force and fleet (despite the fact that the airline recently purchased new aircraft and has more on order).

Earlier this year, the CEO of Croatia Airlines said that the carrier’s only saviour from bankruptcy was swift privatisation. Lufthansa was rumoured to be interested in the airline but the German carrier denied such claims several months ago. This year, Croatia Airlines is loosing its grip on the Croatian market, unable to fight again low cost airlines. Of particular concern to the carrier is the arrival of low cost airlines in Zagreb.

Turkish Airlines owns 49% of B&H Airlines and is the front runner in the purchase of Jat Airways.