Subscribe Free
in Business & Finance

TAV Airports to buy-back shares

Posted 16 March 2020 · Add Comment

TAV Airports will initiate share buy-back in order to contain the effect of fluctuations in markets due to the coronavirus pandemic.

 

TAV Airports President&CEO Sani Şener said: “The coronavirus pandemic and related precautions resulted in a decrease in passenger traffic at the airports we operate around the world. Due to the fact that we’re in the low season, the effect of this traffic decrease had a limited effect on our financial performance to date. On the other hand, the pandemic has serious implications for the global tourism and aviation industry and this has reflected negatively in our share price. In order to confirm our confidence in our company, our Board has decided to initiate a share buy-back up to TRY 200 million. We believe that the effects of the pandemic will be contained in coming weeks and the aviation industry will have a quick recovery, as we witnessed in prior incidents.”

 

TAV had served 8.5 million passengers in the first two months of this year, with a 3% decrease compared to the same period in 2019. In the same period, the total international passenger traffic in TAV’s portfolio increased by 13% while the domestic traffic decreased by 13%. 

Other Stories
Advertisement
Latest News

The airline industry is expected to remain cash negative throughout 2021

The International Air Transport Association (IATA) has released new analysis showing that the airline industry is expected to remain cash negative throughout 2021.

Emirates and Dubai Health Authority to create digital verification of COVID-19 medical records

Emirates and the Dubai Health Authority (DHA) have signed an MoU which aims to position Dubai as one of the first cities in the world to implement digital verification of traveller medical records related to COVID-19 testing and

TAV Airports served 27 million passengers in 2020

Turkey’s TAV Airports has announced its full-year 2020 financial and operational results revealing it served 14.3 million domestic and 12.7 million international passengers in 2020, with a total of 70% decrease compared to the

Embraer’s Phenom 300 becomes world’s best-selling light jet

For the ninth consecutive year, Embraer’s Phenom 300 series has become the world’s best-selling light jet according to numbers released today by the General Aviation Manufacturers Association (GAMA).

Flydubai expands its operations to Romania

Flydubai has launched flights to Cluj-Napoca in Romania. The airline will operate twice-weekly flights between Dubai International (DXB) and Avram Iancu International Airport Cluj (CLJ) starting from 20 March 2021.

IDEX: Collins Aerospace targets Middle East fighter seats

Collins Aerospace is looking at upgrading the F-15 and F-16 aircraft in the Middle East with its next generation ACES 5 ejection seats.

DIT DSO SK2101210421
See us at
Aviation Africa 2021 BTNNAviation MENA 2021DAS21_BTArab Aviation Summit BT1002230321World Defence Show 2022