ISTANBUL - ''We have launched the public offering of 25 percent of Turkish Airlines' (THY) shares,'' announced Metin Kilci, chairman of Turkish Privatization Administration Board, on Monday.
Holding a press conference in Turkish metropolis of Istanbul, Kilci indicated that THY has made significant progress in recent years despite the fluctuations in aviation industry.
Kilci stated that THY aims to carry 20 million passengers, and increase its turnover to 3 billion USD in coming years.
''We will collect bids since May 18th, 2006. THY shares will be on transaction at the Stock Exchange as of May 25th, 2005,'' he noted.
According to Kilci, THY's privatized shares will rise to 28.75 percent, and the state's shares will fall to 46.43 percent at the end of this public offering.
Kilci said that the public offering will be conducted by a consortium, set up under the Is Yatirim administration, and through 40 broker agencies.