New real estate investment firm launched by Turkish Airlines

The real estate investment firm trust company has been established with a cash capital of $13,000, Turkey’s flag carrier announces.The Company will operate principally in the fields of airport operations and investments and also according to the fields of other activity that is specified in the Articles of Association of the Company, it said in a statement to Turkey's Public Disclosure Platform.

THY Airport Real Estate Investment and Operation A.Ş - was founded with 50,000 Turkish Lira ($13,000) equity, The Company was established to “make investments in airports”.

The company will carry out operations in airport management and investment and is registered to the Istanbul Trade Registry Administration.

“Mainly we will work in Turkey, but that depends,” he added. “We’ve been getting such proposals from different locations. Since we don’t have such a business within Turkish Airlines, our board established the company to find such opportunities in this area.”

Turkish Airlines announced record Q3 net profit of $939 million, a 23 percent increase in total revenues compared to the same period in 2016. The airline’s nine-month operating net profit stands at $958 million.