The Turkish national airline, like the entire industry, is suffering from the corona crisis. But Turkish Airlines also has a very specific problem.
Turkish Airlines
Turkish Airlines plane in the hangar: The airline wants to get back to light with its jets as quickly as possible.
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The Turkish Airlines aircraft will have been on the ground for two months. The airline has extended its flight stop, which has been in effect since the end of March, until May 28. The long-haul flights even started again in June. And that is becoming a problem for them.
As the newspaper Handelsblatt reports, Turkish Airlines leases 219 of its more than 300 aircraft. The monthly rental costs continue to run largely, even if lessors of the airline are likely to be a bit accommodating. According to the Denizbank analysts, the Turkish national airline alone will incur short-term liabilities of $ 1.4 billion – among many other costs that are still incurred.
State loans?
That is why Turkish Airlines is now also relying on the state. “The state can grant loans and support us,” said CEO Ilker Ayci, according to the Handelsblatt.
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