THY pressed the button for the share buyback program!

Turkish Airlines (THY) made a new attempt to support healthy price formation in the stock market. The company shared the details of the initiative with the statement it sent to the Public Disclosure Platform (KAP). Here is the description and all the details…

Turkish Airlines launches 9 billion lira share buyback program

THY announced that it has started a share buyback program in its post to the Public Disclosure Platform (KAP). Turkish Airlines (THY) announced that it has taken a new 9 billion lira step to support healthy price formation in the share market.

The announced THY program was arranged to cover 3 calendar years. Within the framework of the amendment put into practice today in the Communiqué on Repurchased Shares of the Capital Markets Board (CMB), it was stated in order to support healthy price formation in the share market.

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The following statements were included in the statement;

Our Incorporation’s Board of Directors, within the framework of the Capital Markets Board’s Communiqué on Repurchased Shares (II-22.1) and its announcement dated 14.02.2023, in order to support healthy price formation in the share market of our Incorporation’s share value;

  • Initiating a share buyback program covering 3 calendar years,
  • The maximum amount that can be repurchased is determined as 9.000.000.000 TL to be covered from the cash portfolio of our Incorporation, and the maximum number of shares to be repurchased is limited to 5% of the issued capital of our Incorporation,
  • It has been decided that the share repurchase transactions to be made will be included in the agenda of the first General Assembly meeting and submitted for the information of the General Assembly.

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