Turkish Carrier Cuts Losses, Eyes New Investment Opportunities

Turkish Airlines has decided to sell its 49% stake in Air Albania, seven years after the Albanian flag carrier began operations. The airline plans to sell all its shares, with other investors including MDN Investment and Albcontrol. Air Albania operates a single Airbus A320-200 aircraft and has been expanding its network. Turkish Airlines’ decision to sell its stake in Air Albania comes after a $349 million bid for a minority stake in Spanish carrier Air Europa was finalized. The move is expected to be completed in the coming weeks, according to Turkish Airlines. The decision was first reported by AeroTime.