Turkish Airlines will transfer ownership of five of its Boeing 737-800s to its soon-to-be spun out low-cost operation AJet to support its application to secure its own operating permits.
The Star Alliance carrier is in the process of establishing its budget unit Anadolu Jet as a wholly-owned subsidiary, rebranding it under the AJet name.
In a short stock exchange statement Turkish Airlines says it will transfer ownership of five 737-800s to the unit ”as an in-kind capital in order to obtain necessary operating permits” to begin operations.
The low-cost airline, which is set to operate a fleet of 88 aircraft by year-end, hopes to begin flights under the AJet branding next summer.
