US-based BlackRock has increased its stake in Turkish Airlines to 5.06% from 4.96%, the global investment giant said on July 16 in a stock exchange filing.
Shareholders that have a higher than 5% stake in a Borsa Istanbul-listed company are obliged to inform the public disclosure platform (KAP) as regards their transactions in company shares, according to local regulations.
Turkish Airlines has lately switched its main hub to Turkey’s new mega airport, Istanbul Airport, which is located by the Black Sea outside of the business capital. Previously, the flagship carrier largely operated out of Istanbul Ataturk Airport. The new airport has experienced substantial teething problems and delays but officials have plans to build it up to the point where it can claim the status of largest airport in the world.
On June 25, BlackRock said it had increased its stake in Turkish gold miner Koza Altin to 5.01% from 4.94%.
In February 2018, it was the top buyer in largest Turkish electricity distributor Enerjisa Enerji’s initial public offering (IPO).
BlackRock also has stakes in state-controlled Halkbank and Emlak REIT.