Türkiye's AJet obtains $434mn capital increase

AJet has received a TRY15b lira (US$434m) capital increase from its parent company Turkish Airlines, a regulatory filing reveals. “The capital of our 100% subsidiary AJet Hava Taşımacılık A.Ş. has been increased by TRY15b in line with the company's growth strategies,” the disclosure to Türkiye's Public Disclosure Platform read. The announcement comes shortly after it was revealed that AJet would resume its partnership with SunExpress. The two companies cooperated before AJet was spun off from Turkish Airlines (when it was using the AnadoluJet brand) and obtained its own AOC under the current name. This summer, Turkish Airlines chairman Ahmet Bolat revealed that AJet was seeking a reduction in ACMI dependence and would like to run its own operations. AJet is a fully-owned subsidiary of Turkish Airlines.<br/>