Turkish Airlines buy 49% of Bosnia's B&H airline shares

ANKARA, Dec. 22 (Chinese media) -- The Turkish Airlines (THY) said on Monday it bought 49 percent of the shares of Bosnia's BH Airlines (BH), Turkey's semi-official Anatolia news agency reported.

Top THY officials were quoted as saying that the partnership agreement on the transfer of shares has been finally signed between the two sides.

According to the report, the Bosnian government had approved the deal on Nov. 23.

The Bosnia airline was founded on Aug. 12, 1994 as the Air Bosna, which ceased operations in 2003 due to an increased debt. In June 2005, it restarted operations as BH Airlines.

THY, a Star Alliance member, has been picked as the best bidder in the auction for a 49 percent stake of the BH, which is important for bringing THY closer to its goal of having an effective presence in the global market although BH is only a small company, said the report.