As far as I understand, the issue is not operating those aircraft you mentioned as TK
is invoicing these costs to respective governmental authorities.
Being a BIST listed company, TK
is obliged to protect its shareholders, especially the small noname shareholders which can not hear their voices to TK
Management. It is also said that these small shareholders are not only local ones but also international ones.
In Turkey-1 VIP Airplane case, TK
purchased this plane from its own pocket using its own profit. They are claiming that, instead of buying this aircraft which is not directly or indirectly revenue/profit generating for TK
, Board of Directors should have distributed this money as profit to shareholders. In the current circumstance, it is covered transfer of profit of TK
to others (i.e. government of Turkey).
If SPK concludes that these allegations have a point and inform/report this to court for investigation, it is said that all Board of Directors of TK
is sacked automatically. And after court investigation, members of TK
board may be punished between 3 to 7 years in prison.
However I'm sure that SPK will find a way to save the situation. If not, Government will step in and even change law if necessary or perhaps buy the airplane from TK
International credibility of SPK and BIST? Credibility of TK
? These questions will last for some more time after all is set and done.
The future is in the skies.