Turkey’s Atlasjet suspends flights until Dec. 21 due to financial problems

News About Turkey - NAT
1 Min Read

Turkish airline company Atlasjet has suspended its flights as of Tuesday until Dec. 21, saying the transfer of flights to İstanbul’s new airport had caused it cash flow problems, Reuters reported.

“With the transfer of flights to the new Istanbul airport from April 2019, there has been a sharp rise in logistics and operational costs, making it impossible to make up for our losses recorded in the 2016-17 period,” the statement said.

The company also cited lower demand for its flights in the second half of 2018 due to the “fast and aggressive” depreciation of the Turkish lira.

The currency is down 8.5 percent this year after shedding nearly 30 percent last year.

Atlasjet said the suspension would allow time for the necessary restructuring and improvement in its cash flow.

Atlasjet offers scheduled flights for passengers and cargo and operates domestic and international routes to Europe, Russia, Kazakhstan, Germany and the United Arab Emirates.

Share This Article
Founded by a small group of Turkish/Kurdish scholars who have been subjected to persecution at the hands of the Erdogan dictatorship, News About Turkey (NAT) has emerged as a platform that is both exceptional and invaluable. Our objective is to provide you with a comprehensive and sophisticated understanding of the events and developments in Turkey (Türkiye), a country with profound historical and geopolitical importance, a vibrant culture, and a strategic location. Our founders, who have been purged by the Erdogan regime after the so-called coup attempt, are aware of the significance of journalism that is both free and independent. Because of this understanding, we are committed to providing reporting and analysis that is both objective and comprehensive. To give you the most thorough coverage of Turkey, we go further than just scratching the surface. Keep in touch with us so that you can have a better understanding of Turkey's developing story as well as vital and comprehensive news items. Whether you are a resident of Turkey, a member of the Turkish/Kurdish diaspora, or simply someone who has a strong interest in this vital country, we are the most reliable source for news that not only informs but also inspires and engages you.
Leave a comment