McKinsey to consult on Turkish Airlines

ISTANBUL - Reuters

The majority (50.88 percent) of THY’s shares is offered to public. DHA Photo

A contract will be signed between the Turkish Privatization Authority and McKinsey Consulting to use the consulting services of the latter in the privatization process of a 49.12 share of Turkish Airlines (THY), according to a July 12 statement from the authority, which owns those shares, to the Turkish national stock exchange, Borsa Istanbul. Following the statement, many have claimed that the Turkish Airlines would be sold soon, but the Privatization Authority denied the claims, saying no such operation underway right now.

McKinsey Consulting was chosen to help the Privatization Authority in making administrative, financial and judicial assessments; analyzing its financials; defining its operational performance; following its growth strategies; and designating its privatization strategies when necessary, according to the statement.