Turkish Airlines in investment talks to finance New Istanbul Airport

posted on 28th June 2018 by yumna
Turkish Airlines in investment talks to finance New Istanbul Airport

Turkish Airlines has held talks with over ten banks in Turkey and China to obtain financial investment in new facilities at Istanbul New Airport, it’s been reported recently.

Reuters reported that sources have stated a deal is ready to be completed between the financial institutions and the Turkish carrier.

The deal is reported to be in the realm of $800m and $1bn.

Turkey anticipates that the airport will become the biggest airport in the world when it opens in October of this year if all phases of building are completed. This month marked 90% completion in construction of its first phase.

$11.96bn has been invested in the airport already, with reports saying that the new airport will contribute 5% to GDP.