Corendon Airlines Set to Go Public After Completing Regulatory Requirements

Corendon Airlines Chairman of the Board and CEO Yıldıray Karaer has announced that the company will take steps towards an initial public offering (IPO) once it has completed its regulatory requirements. Karaer stated that the process could mature within one to three years, sending a clear message to investors.

Antalya, the Heart of Turkish Tourism

Karaer emphasised that Antalya is at the centre of Turkish tourism. He noted that Antalya Airport welcomed 17 million passengers in 2024, while in 2025 the figures are close to last year’s levels. Highlighting that Turkey is now perceived as an “expensive tourism destination,” Karaer stressed that despite this, there has been no significant decline in demand.

Cost Pressure and Exchange Rates

Karaer underlined that one of the biggest problems in tourism is the imbalance between currency and inflation. He pointed out that 95% of hotel operating costs are in Turkish lira and that the rise in minimum wage, food and energy costs has not progressed in line with currency increases, putting pressure on the sector. He also noted that in aviation, rising maintenance and personnel costs are weighing heavily on companies.

Global Challenges in Aviation

Karaer highlighted that the aviation industry is facing supply chain issues on a global scale. He stated that 2,500 Airbus engines are currently defective, while Boeing’s Max 8 and Max 9 models continue to experience technical problems. This situation, he said, is making it difficult to procure new aircraft and is limiting growth plans.

Germany as the Largest Market

Karaer explained that Corendon Airlines carries around 10 million passengers annually, with 70% of its capacity dedicated to the German market. He added that the company aims to expand in the UK and Polish markets in the coming period. Emphasising that Turkey’s product quality is higher compared to rival countries, Karaer also remarked that the “all-inclusive” system is often overstated.

IPO Objective

Karaer noted that Corendon, which does not have a major holding or fund behind it, remains open to foreign investors. However, if investor interest does not materialise, the company will proceed with a public offering once regulatory processes are completed.