Turkish Airlines is to divest its entire shareholding in Air Albania, the carrier it helped to establish seven years ago.
Air Albania has been operating a small fleet of Airbus A320s over a European network of about a dozen destinations.
Turkish Airlines holds a 49% share in the carrier.
But it states that its board of directors has “decided to sell all of the shares” in Air Albania, without elaborating on the reason.
According to the Albanian national business centre, QKB, Air Albania was established in September 2018, through a Turkish Airlines joint venture with two other shareholders.
It identifies these other shareholders as MDN Investment and air navigation service Albcontrol, which respectively held 41% and 10% of the carrier.
No potential buyer of the Turkish interest has been disclosed.
Turkish Airlines has been undertaking expansion elsewhere with plans to acquire a substantial minority shareholding in Spanish operator Air Europa.
