Turkish Airlines has unveiled a stock buyback program worth nine billion Turkish Lira ($234.2 million) in response to a notable drop in its stock price due to political tensions in Turkey. The arrest of Istanbul's opposition mayor raised concerns about the upcoming elections and the political climate, negatively affecting market confidence. Despite these challenges, Turkish Airlines reported a profit of $2.4 billion for 2024 and an 8.2% revenue increase, signaling a strong financial position that supports the buyback initiative and dividends for shareholders.
"Turkish Airlines recently announced a significant stock buyback program of nine billion Turkish Lira, aiming to stabilize its stock amidst political unrest and market fluctuations."
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