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MarketScreener Homepage  >  Equities  >  ISTANBUL STOCK EXCHANGE  >  Turk Hava Yollari AO    THYAO   TRATHYAO91M5

TURK HAVA YOLLARI AO

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Turk Hava Yollari AO : Air Astana and Turkish Airlines sign a codeshare agreement

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06/04/2013 | 02:54am EDT
Air Astana and Turkish Airlines sign a codeshare agreement

04.06.2013

Air Astana and Turkish Airlines, Skytrax award-winning carriers from Central Asia and Europe, have signed a codeshare agreement on routes between Kazakhstan and Turkey. The agreement was signed at the IATA Annual General Meeting in Cape Town today by Peter Foster, President of Air Astana, and Dr. Temel Kotil, President and CEO of Turkish Airlines.

Air Astana and Turkish Airlines signed the Letter of Intent to expand the range of cooperation between the two carriers in March 2013. The codeshare agreement allows passengers to benefit from a higher number of combined frequencies for better connectivity and increased travel flexibility between the two countries. Codesharing on flights between Almaty - Istanbul and Astana - Istanbul additionally include special prorate agreements on sectors beyond respective hubs in Almaty, Astana and Istanbul offering an expanded network to passengers.

«Under the strong and visionary leadership of  its management and thanks to the , dedicated efforts of its employees, Turkish Airlines has become a globally recognized network carrier serving more countries globally than any other carrier and achieved the Skytrax rating as «Best airline in Europe» for the past two years consecutively. The codeshare agreement signed today is the latest step in the increasingly close link between the two airlines; both of which show equal ambition to continue to progress well above average world ratings and fully committed to delivering excellence in customer service,» said Peter Foster, President of Air Astana.

«We are extremely pleased to sign this codeshare agreement with Air Astana and aim to improve our partnership to maximize the travel opportunities offered to passengers through the extensive networks of both airlines. Air Astana continues expanding successfully, offering superior customer service, with a very young fleet. We believe the partnership with Air Astana will bring enormous benefit to both airlines, not only from a commercial perspective in rapidly growing Kazakhstan, but also in technical and training areas,» said Dr. Temel Kotil, President and CEO of Turkish Airlines.

About Air Astana

Air Astana commenced regular flight operations on 15 May 2002 and currently operates a network of almost 60 international and domestic routes from hubs in Almaty, Astana and Atyrau. Air Astana flies an all-western fleet comprised of two Boeing 767s, five Boeing 757s, twelve Airbus A320 family aircraft, and seven Embraer 190s. Air Astana has become the first carrier from Russia/the CIS /Eastern Europe to be awarded the prestigious 4-Star rating by Skytrax in its World Airline Awards 2012 and was named The Best Airline in Central Asia and India.

Air Astana is a full member of the International Air Transport Association and was the first airline in Kazakhstan to achieve EU EASA Part 145 aircraft maintenance certification. In April 2013, Air Astana successfully completed its fourth IATA Operational Safety Audit (IOSA).
Air Astana is a joint venture between Kazakhstan's national wealth fund Samruk Kazyna and BAE Systems, with respective shares of 51% and 49%.

Turkish Airlines, Inc.
Media Relations

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Financials
Sales 2020 53 122 M 6 673 M 6 673 M
Net income 2020 -4 699 M -590 M -590 M
Net Debt 2020 95 740 M 12 026 M 12 026 M
P/E ratio 2020 -1,91x
Yield 2020 -
Capitalization 14 311 M 1 797 M 1 798 M
EV / Sales 2020 2,07x
EV / Sales 2021 1,42x
Nbr of Employees 39 020
Free-Float 50,9%
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus HOLD
Number of Analysts 14
Average target price 12,27 TRY
Last Close Price 10,37 TRY
Spread / Highest target 63,9%
Spread / Average Target 18,3%
Spread / Lowest Target -5,50%
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NameTitle
Bilal Eksi Deputy Chairman & Chief Executive Officer
Mehmet Ilker Ayci Chairman
Aykut Alpa Chief Flight Operations Officer
Murat Seker Chief Financial Officer
Ahmet Bolat Chief Investment & Technology Officer
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