Lira slide not affecting Turkish Airlines: CEO

SINGAPORE - Reuters

Turkish Airlines Chief Executive Temel Kotil says the company is immune to weaknesses in Turkish lira, as it is an international company. AA photo

Turkish Airlines said on Feb. 10 it would maintain its planned level of aircraft deliveries in 2014 and was having no difficulty in running its operations despite sharp falls in the country’s currency.

“What is happening in Turkey is local and we are international,” chief executive Temel Kotil told Reuters in an interview ahead of this week’s Singapore Airshow.

He said the airline was not currently considering adding to 256 aircraft on order as it expands its fleet.

Investors sold off emerging market assets in expectation that the U.S. Federal Reserve will continue gradually to reduce its stimulus program.

The lira was among the biggest losers, particularly vulnerable because of Turkey’s large current account deficit and political uncertainty surrounding a corruption scandal.