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Turkish Airlines to buy back shares after approval

Christian Fernsby |
Turkish Airlines will start a buyback program after it’s approved at its shareholders’ general assembly meeting scheduled on March 31, Chairman Ilker Ayci said today.

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Around 85% of the carrier’s passenger planes are not being used at the moment, Ayci said in an interview with CNNTurk television, after Turkey suspended flights from more than 60 countries because of the coronavirus outbreak.

Turkey’s death toll from the disease rose to 21, with 947 people infected, Health Minister Fahrettin Koca said late yesterday.

As part of its efforts to counter the economic impact of the outbreak, Turkey cut value-added tax on aviation to 1% from 18% until the end of June, according to a presidential decree published in the Official Gazette today.

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