Following the appointment of trustees to the Turkish Aeronautical Association (THK), a decision has been made to sell firefighting aircraft to address substantial tax and Social Security Institution (SGK) debts. In 2019, the Ankara 9th Civil Court of Peace assigned a trustee board to the association, and recent decisions have initiated debt restructuring efforts.
Sales Process and Court Rulings
According to a report by BirGün, the THK trustee board sought court approval for the sale of the aircraft. However, on October 7, 2024, the court deemed the submitted sales plan insufficient and requested further clarification.
Subsequently, on November 28, 2024, the Ankara 9th Civil Court of Peace approved the auctioning of eight firefighting aircraft. The court emphasized that the revenue generated from the sale would be allocated toward:
- Tax debts,
- SGK premiums,
- Other operational expenses.
Expert Committee Appointed
To assess the market value of the aircraft, the court ordered the establishment of a three-member expert committee. This committee will evaluate whether the pricing aligns with market conditions.
Debt Settlement Objective
THK has been grappling with significant debt for years. The resolution of tax and SGK debts is a top priority for restructuring the association’s finances. If the sale proceeds as planned, it is expected to:
- Substantially reduce the association’s debt burden,
- Enhance its financial sustainability.
Auction Process Set to Begin
Details of the auction have yet to be disclosed, but the process is anticipated to be conducted transparently. The court has mandated that the proceeds be explicitly directed toward debt repayment.
Comments from Aviation Editor Mevlüt Zor:
The decision to sell THK’s firefighting aircraft reflects an effort to resolve the association’s financial crisis, yet its long-term implications remain debatable. While this action may provide temporary financial relief, it risks undermining THK’s core operations.
The appointment of an expert committee to ensure fair pricing is a critical step toward maintaining transparency in the process. However, the sale raises questions about how THK’s future operational capacity will be affected. Addressing the financial strain in this manner could offer a short-term solution, but a more comprehensive strategy is essential to secure the association’s sustainability and operational effectiveness in the long term.
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