Turkish plans majority takeover

Turkish Airlines plans complete control over B&H

According to sources close to B&H Airlines, Source : EXYU aviation news : http://exyuaviation.blogspot.com can exclusively reveal that Turkish Airlines is planning to take complete control over the national carrier of Bosnia and Herzegovina. Turkish, which already owns 49% of the carrier, plans to become a majority shareholder by the end of 2011. This move would ease managerial problem the airline is currently experiencing. The sell out decision might come under scrutiny sometime in the future since Bosnia and Herzegovina aspires to become a member of the European Union. European Union regulation states that a flag carrier cannot be in majority ownership of another airline or business that comes from a country not part of the EU.

Meanwhile, the race is on for B&H’s new CEO. The long list of candidates stems from former Prime Ministers, government ministers, airport and airline employees. B&H anticipates a sharp rise in passenger numbers from December 15, as the country’s citizens have been granted visa free travel to countries of the Schengen zone. It remains to be seen whether there will be a sharp rise in competition as well.