Turkish Airlines Retreats as Cancellations Enter Second Day

Turk Hava Yollari AO (THYAO), the national carrier known as Turkish Airlines, fell to the lowest in more than two months after canceling flights for a second day amid a pay dispute.

The stock dropped 1.6 percent to 2.52 liras at the close in Istanbul, the lowest since March 13.

The airline canceled 68 flights from Istanbul’s Ataturk airport today, citing “operational reasons,” the state-run Anatolia news agency reported today.

The carrier canceled more than 100 flights yesterday as employees resorted to work slow-down and after its website was hacked, Transport Minister Binali Yildirim said.

Employees are protesting a proposal in the Turkish parliament banning strikes in civil aviation, labor union Hava- Is said yesterday.

To contact the reporter on this story: Aydan Eksin in Istanbul at aeksin@bloomberg.net

To contact the editor responsible for this story: Gavin Serkin at gserkin@bloomberg.net

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