Turkish parliament passes law liberalizing airline flight prices

Published April 22nd, 2001 - 02:00 GMT

Turkish lawmakers passed a law Thursday, April 19, giving private airline companies in the country the freedom to set prices for domestic flights. 

 

Under the legislation passed by parliament, airline companies will determine ticket prices in line with financial and economic conditions and will submit them for approval to the transport ministry. 

 

Under current regulations, the transport ministry decides prices for domestic flights. 

 

The legislation was one of several priority bills outlined to tackle severe economic turmoil, which forced the Ankara government to float the Turkish lira in February. 

 

The float of the lira disrupted a three-year anti-inflation program backed by the International Monetary Fund (IMF). 

 

A series of other legal amendments, aimed mainly at reforming the country's ailing banking sector and speeding up privatization, have yet to be agreed by parliament. 

 

The reforms are central to an ambitious new economic program announced last week to put the country back on track and efforts to secure up to $12 billion in foreign aid. — (AFP, Ankara) 

 

© Agence France Presse 2001

© 2001 Mena Report (www.menareport.com)

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