THY to expand into China, India with local partners

DAILY SABAH WITH ANADOLU AGENCY
ISTANBUL
Published

Turkish Airlines (THY) Chairman and Chief Executive Officer İlker Aycı said THY plans to both grow and add China and India as international partners in the coming period, adding that they are in talks with major investors in the Far East. "We want to enter China through partnerships, such as cooperation on airport operations and airline companies in the country," he stated.

Speaking at the "International Economic Development Summit - A View of Global Crisis Through China and India and Turkey," Aycı said THY has become an airline company that provides flights to the greatest number of destinations in the world. "We are trying to do what the maxim ‘The future is in the skies' requires," he said.

Stressing that he hopes that the deepening in financial markets will continue, Aycı said, "Thanks to the Sovereign Welfare Fund, Turkey will now determine its own path."

Recalling that one of the reasons for the construction of the new airport in Istanbul is Turkey's strategy to become a transfer hub in the region and the world, Aycı said Turkey is striving to play a role as a center of attraction.

Aycı stated that the THY's number of passengers increased by 2.5 percent last year and that they had an operational profit of $386 million in the last quarter, adding: "We are sorry, we cannot prevent our growth. We are planning to both grow and add China and India to our international partners in the coming period. My colleagues are in talks with major investors in the Far East."

Aycı pointed out that THY might achieve a double-digit growth rate at the end of the year.

Aycı shared information about the problems experienced in some issues and answered the question of whether THY will fly to new points in China.

"We want to enter China by establishing partnerships, such as cooperation on airport operations and airline companies," he said. Underlining that partnership might go for all countries in the region, Aycı said business partnerships with other companies that have long international experience can indirectly allow THY to enter those regions as well. He said they would continue to ask for frequency and flight rights at every level.

Kerem Alkin, a member of the Board of Directors of the Turkish Sovereign Wealth Fund, made a presentation titled "The Rise of the Asia Pacific, Belt and Road Initiative."

Stating that Turkey should proportionally target its role in global goods and services production, Alkin said Turkey's critical objective to achieve from 2023 to 2030 is to have a 1.5 percent share both of global gross domestic product and global trade. He continued: "In other words, the export figure of $500 billion may not be actualized for it seems the global trade will not enable us to achieve this figure. Global trade has its own drawbacks, so it would be good to revise the targets to a 1.5 percent share of global GDP and global trade, instead of $500 billion in exports."

Underlining that countries that succeed in accessing the world in the coming period will also be leaders in global competition, Alkin remarked that Turkey should do important work in the national broadband strategy.

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