Turkish Airlines (THY) stated that THY Financial Technologies Inc. has been established as a 100% subsidiary.
THY’s statement on the Public Disclosure Platform (PDP) included the following information regarding the establishment processes of the new company:
“In our announcement dated July 14, considering the experience of our partnership in the aviation industry, its global strength and the volume of transactions passing through sales channels, we have started the necessary studies for the establishment of an electronic money and payment services institution in order to transform its current potential into a business model that creates value, and to carry out the licensing processes within the framework of the relevant legislation. This was shared with the public as a decision that was made by our board of directors. In this context, the establishment of ‘THY Financial Technologies Inc.’, which will be a 100% subsidiary of our partnership, was completed on August 18, after being registered with the Istanbul Trade Registry Directorate.”
Source: AA / Prepared by Irem Yildiz