Turkish firm SBK Holdings has acquired a 100% stake of Istanbul-based regional carrier Borajet Airlines.
The airline was established by Yalcin Ayasli, a Turkish businessman and professor based in USA. Sources say SBK acquired the 100% stake in the carrier for $260 million. More details of the acquisition are expected to be announced on 30 December.
BoraJet launched operations in 2010 using ATR 72 turboprops, before moving to the larger Embraer 190/195 regional jets in 2013. The regional airline has six of each type currently in-service.
SBK Holding’s chief executive Sezgin Baran Korkmaz will lead the airline.
At the Istanbul air show in October Borajet disclosed it is to receive the first five Embraer E195 E2 regional jets from lessor Aercap, beginning in 2018.