Turkish Air weighs M&A as defence on rising protectionism

Turkish Airlines chairman Ilker Ayci is evaluating potential investments in other airlines to help safeguard expansion if the rise in protectionism presents hurdles to growth. The carrier is examining prospects in a range of markets, including India, China and the US, Ayci said. “We’ve expanded through organic growth so far, but protectionist policies are rising,” he said. “So we’re exploring cross-airline relationships -- equity or non-equity. It’s a long-term strategy, and it’s too early to say right now whether it will become a reality.” The three leading Persian Gulf carriers are facing pushback from US and European authorities against rapid growth that has captured more of the lucrative intercontinental travel market. Turkish Airlines, which operates from a hub in Istanbul, hasn’t been targeted so far, though it has been pursuing a similar strategy. <br/>