SARAJEVO ,Bosnia (November 24,2008) - The Bosnian government approved yesterday the sale of a 49 percent stake in the Bosnian national carrier B&H Airlines to Turkish Airlines (THY).
THY Chairman Candan Karlıtekin said yesterday they are still continuing talks with their Bosnian counterparts to finalize the sale, adding that a deal with B&H Airlines on the transfer of shares will be signed soon.
Previously, Karlıtekin had said they expected to get a voice in the European aviation market with the B&H Airlines agreement. He noted again yesterday that they will have an airline company in Europe, stressing that, although B&H Airlines is a small company, this step was nevertheless important for bringing THY closer to its goal of having an effective presence in the global market.
Karlıtekin noted that B&H Airlines had significant market potential despite its small size.
"The company has a 14 percent market share in Bosnia and we expect to increase this threefold with the new investments that we plan to make," he said.
THY will have three representatives on the B&H Airlines executive board and they do not plan to go beyond the 49 percent share they are currently working on. THY aims to increase flights between the southeastern European countries, as well as flights to London's Heathrow Airport, the largest airport in England.