Turkish Airlines Inc. (THY) has taken a significant step in its stock buyback program. According to a decision made by the Board of Directors on February 14, 2023, the company aims to repurchase shares with a nominal value of 69 million TL. The buyback program spans a three-year period starting from the board’s approval date and will continue until December 31, 2025.
The total fund allocated for the buyback is set at 9 billion TL, highlighting the financial scale of this operation and the company’s commitment to it. So far, transactions under this program have been executed at an average price range of 130-140 TL.
The buybacks conducted in the first half of the year are intended to support Turkish Airlines’ market value and instill confidence in its shareholders. The company’s 2023 buyback activities are aligned with its goal of maintaining stable stock prices.
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