Turkish Airlines is to sell its 49 percent stake in Air Albania. The carrier will update investors on further developments in due course, it said in a statement.

In September 2018, Turkish Airlines said Air Albania was established with up to $30 million in capital. It would operate in passenger and cargo transportation, according to local media reports.

MDN Investment SHPK and Albcontrol, representing the government of Albania, own 41 percent and 10 percent, respectively.

In August Turkish Airlines acquired a minority stake in Air Europa for €300 million ($349 million). A month later its chairman Ahmet Bolat ruled out acquiring a majority stake in Spanish airline Air Europa.

Turkey’s flag carrier said revenue increased 5 percent year on year in the third quarter of 2025. It reached almost $7 billion. This was supported by strong passenger demand. However, net profit for the quarter fell 11 percent from the equivalent 2024 figure to $1.4 billion.

Turkish Airlines secured the agreement to share control of the carrier with the Hidalgo family. It beat European rivals Lufthansa and Air France-KLM. The deal came as airlines are looking to consolidate the continent’s fragmented market by snapping up smaller, struggling operators.

Turkish Airlines expects passenger numbers to grow by 7 to 8 percent to more than 91 million this year.

The airline’s shares, which trade on Boursa Istanbul, closed at TL277.50 on Wednesday, down nearly 7 percent so far this year.