The Turkish government has begun the privatisation process of wholly owned flag carrier Turkish Airlines (THY), selling a 20% stake in the carrier. The sale was five times oversubscribed, encouraging the state to go ahead with an option to sell another 3%. Turkey's privatisation body says up to 49% of the carrier will be sold during 2005. THY is to lease two more Airbus A321s for the summer.

Source: Airline Business