Turkey's government will sell as much as 29 per cent of national airline Turk Hava Yollari AO this week in a third public offering as it seeks to raise cash and curb the state's role in the economy. The sale is expected to raise up to $250-million (U.S.). Turkey is selling state-run firms under a plan backed by the IMF to reduce debt. The government raised about $200-million in December, 2004, by selling a 23-per-cent stake in Turkish Airlines, as the carrier is known, after an initial sale of 1.5 per cent of the company in 1990. Turkish Airlines shares were suspended from trading before markets opened yesterday. On May 12, the shares closed at 7.25 Turkish lira ($5.58).
