Turkish aviation shares rise on Germany considering travel guidelines

Tav Havalimanlari Holding

28/05/2020 10:51

ISTANBUL, May 28 (Reuters) - Shares in Turkey's aviation
sector rose on Thursday on hopes for the resumption of
international flights after Germany said it would lift a travel
warning against 26 European Union countries.
    Germany said it would decide later on other countries,
including Turkey, and analysts saw the statement as a positive
signal.
    Turkey's tourism and aviation sector has suffered since the
coronavirus outbreak began spreading across the globe. Germany
is a main source of tourists for Turkey.
    Germany's Foreign Minister Heiko Maas said on Wednesday that
the travel warnings would be lifted on June 15, while a
government source said that the step would include non-EU states
Britain, Iceland, Norway, Switzerland and Liechtenstein.
 urn:newsml:reuters.com:*:nL8N2D95MY
    Erdem Kayli, aviation analyst at TEB Investment/BNP Paribas,
said Germany preparing to lift travel bans to Turkey was a
positive signal for airlines.
    "Opening flights with a country where a lot of expats live
will be a source of life for airline companies," he said, adding
that Turkish Airlines had planned flights to many German cities
between July and September as part of its comeback plan.
    Turkish Airlines'  THYAO.IS  shares were up 2.84% at 0945
GMT, after surging more than 7% earlier in the day, despite
larger-than-expected losses in the first quarter.  urn:newsml:reuters.com:*:nFWN2D90VJ
    TAV Airports  TAVHL.IS  shares were up 1.26%, after rising
some 6.5% earlier. Shares in Pegasus Airlines  PGSUS.IS  were up
0.42%, after rising some 5.5% earlier.

 (Reporting by Ceyda Caglayan; Writing by Ali Kucukgocmen;
Editing by Daren Butler)
 ((ali.kucukgocmen@thomsonreuters.com , @alikucukgocmen;
+902123507067; Reuters Messaging: Reuters Messaging:
ali.kucukgocmen.thomsonreuters.com@reuters.net))