Bloomberg News

Turkish Airlines Gains After Competition Board Rejects Fine

January 03, 2012

Jan. 2 (Bloomberg) -- Turk Hava Yollari AO, or Turkish Airlines, rose after Turkey’s competition board ruled alleged violations of competition rules were groundless.

The shares climbed 2.8 percent to 2.18 liras at 10:35 a.m. in Istanbul trading, rising for the first day in five.

The competition board investigated if the airline violated competition rules through actions that hurt low-cost carrier Pegasus Airlines, the board said in a statement on its website.

--Editors: James Kraus, Claudia Maedler

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To contact the reporter on this story: Benjamin Harvey in Istanbul at bharvey11@bloomberg.net

To contact the editor responsible for this story: Gavin Serkin at gserkin@bloomberg.net -0- Jan/02/2012 08:23 GMT


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