December 30, 2010 / 11:06 AM / 9 years ago

Turkish Airlines to buy Bosnia carrier -report

SARAJEVO, Dec 30 (Reuters) - Turkish Airlines (THYAO.IS) will acquire the remaining 51 percent stake in BH Airlines, flag carrier of Bosnia’s Muslim-Croat federation, early next year, Dnevni Avaz newspaper reported on Thursday.

Turkish Airlines bought 49 percent in BH Airlines in 2008 in a joint venture deal under which it provided 5 million euros

($6.6 million) to cover the costs of leasing two aircraft and pledged to invest an additional 5 million euros.

The Bosnian carrier’s officials told the newspaper the sale would go ahead after the new Muslim-Croat federation government takes office, though this process has been slow and power-sharing negotiations are still going on three months after a general election.

If the process drags on the sale may be approved by the outgoing government to avoid the closure of the company, the paper quoted an unnamed source as saying.

Officials of the BH Airlines and the federation privatisation agency were not immediately available for comment.

(Reporting by Daria Sito-Sucic; Editing by Zoran Radosavljevic and David Holmes)

($1=.7564 Euro)

($1=1.489 Bosnian marka)

((daria.sito-sucic@thomsonreuters.com; +387 33 295 484; Reuters Messaging: daria.sito-sucic.reuters.com@reuters.net)) Keywords: BOSNIA AIRLINES/TURKEY

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