Turkey's national flag carrier, Turkish Airlines (THY), has established a real estate investment company, the THY Airport Real Estate Investment and Operation A.Ş.

According to a statement released by the airline on the website for the Public Disclosure Platform, the board of directors of the THY have decided to found the THY Airport Real Estate Investment and Operation A.Ş. with a TL-50,000 ($12,870) equity.

The company will carry out operations in airport management and investment, and is registered to the Istanbul Trade Registry Administration.

Last week, the THY announced the highest third-quarter profit in its history, with a real operating profit of $939 million in the third quarter of this year.