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vehicle sales in Turkey.
The company’s first-half revenues stood at Turkish lira (TRY) 7.5bn, while it reported TRY634mn in net income.
Eroldu predicted that 600,000 to 640,000 vehicles would be sold in Turkey this year.
Last year, 479,000 vehicles were sold in the country, a 23% decline from 2018.
Tofas is a joint venture between Turkish conglomerate Koc Holding and Fiat Chrysler Automobiles (FCA). Some 24% of the company’s shares are traded on Borsa Istanbul.
9.2.3​ Transport corporate news
Hava-Is, which represents some 23,000 employees at Turkish Airlines, rejected​ a proposal for wage cuts of up to 50%. It might look at a wage cut of between 25% to 40% to save jobs​.
As of the end of March, Turkish Airlines employed some 39,000 people. Its personnel costs were around $490mn.
Turkish Airlines posted a loss of Turkish lira 2.02bn (€247mn) for the first quarter of 2020.
Turkish Airlines’ total passenger traffic ​declined​ nearly 61% on an annual basis to 17mn in January-July​. The domestic passenger tally dropped 56% y/y to 7.8mn while the number of international passengers plunged 64% y/y to 8.7mn.
Given how hard the coronavirus crisis hit global air traffic and tourism, the airline reported a net loss of $324mn for the first quarter of 2020 versus a $150mn loss in the same period of the previous year. The company’s revenues declined 8.5% y/y to $2.5bn in Q1.
Pegasus Airlines, Turkey’s largest low-cost carrier, ​served​ 1.04mn passengers in July, marking a steep 64% y/y decline​. Domestic passenger total fell 42% y/y in July to 0.8mn.
Pegasus served 0.2mn foreign passengers in the month. The number of international passengers Pegasus served was 85% lower compared with July 2019.
The no frills airline also reported a 56% y/y decline in total passenger traffic in the first seven months of the year to 7.64mn.
Domestic passengers dropped 49% y/y to 4.7mn and international passengers fell 64% y/y to 2.9mn.
9.2.4​ TMT corporate news
“Over the next three years, Zynga will acquire the remaining 20% [in Rollic] in equal installments at valuations based on specific profitability goals,” it said in a statement.
Founded at the end of 2018, Rollic has a portfolio of popular hyper-casual games which have been downloaded more than 250mn times.
Eight of Rollic’s games have reached number one or number two in the
58​ TURKEY Country Report​ September 2020 ​ ​www.intellinews.com