Turkish to dispose of 49% stake in B&H Airlines
Published: June 18, 2012
Turkish Airlines 737-800. By Rob Finlayson
Turkish Airlines (TK) is planning to end its partnership with Bosnia and Herzegovina’s B&H Airlines (JA) by disposing of its 49% stake in the carrier.
TK became a JA shareholder in December 2008, when it took a 49% stake from the Bosnia and Herzegovina government as part of a recapitalization of the airline ( ATW Daily News, Dec. 24, 2008 ).
However, TK said its board has now decided to “end its partnership with B&H Airlines,” adding that “a share transfer agreement will be signed with the Government of Federation of Bosnia and Herzegovina.”
The airline did not specify reasons for the decision, but indicated the agreement will cover its entire 49% stake.
Sarajevo-headquartered JA was established in 1994 under the name Air Bosna.