Turkish Airlines, debt of 14 billion dollars by December
Carrier has to deal with the latest losses
A heavy debt to be managed by the end of 2020: carrier Turkish Airlines certainly cannot claim to be in good health, given that 14 billion dollars to be faced over the next three months are worrying and not a little . According to local media who reported sources close to the Turkish company, negotiations are underway to deal with this situation and to face it is the Turkish Wealth fund, which holds a share of the airline over 49%. For the moment it is a matter of indiscretions, but the two options to be evaluated are that of the injection of capital and that of financing.
However, the fund itself should not be able to provide the necessary liquidity on its own. The problem stems from losses recorded by Turkish Airlines during the second quarter of this year, namely 2.23 billion Turkish lira (just under 400 million dollars to be precise), an economic slowdown inevitably exacerbated by the coronavirus pandemic. They also don't encourage total passenger numbers, as they dropped nearly 66 percentage points year-on-year in August. In the coming weeks there will probably be new updates on the economic situation and its trends.
AVIONEWS - World Aeronautical Press Agency