Category: Business

Expanding Turkish Airlines Will Boost U.S. Service

ISTANBUL — (TheStreet) — Turkey’s continuing emergence as a world power is fueling expansion by Turkish Airlines, including more U.S. service.

In April 2013, the carrier will begin four-day-a-week service from its Istanbul hub to Houston. It also has plans to serve five additional U.S. cities: Atlanta, Boston, Detroit, Miami and Orlando. Currently, Turkish Airlines flies to Chicago, Los Angeles, Washington and New York Kennedy, which has three daily flights.

Turkish Airlines partners with United (UAL_) and US Airways (LCC_) in the Star alliance, but “nobody likes to transfer between planes,” said Turkish Airlines CEO Temel Kotil, in an interview. “This is why in the U.S. many passengers stay home. It helps us to be a Star member, but our target is home to home.”

As a hub, Istanbul has distinct advantages. Not only is Turkey’s political and business importance growing, but also the city is an attractive tourist destination. Additionally, although Kotil said passengers don’t like to connect, they sometimes have to, and from Istanbul they can connect to 187 cities in 88 countries around the world — including Mogadishu, which is not served by any other carrier. “We link them to the world and we make a profit,” Kotil said. Meanwhile, key markets in Germany and France are about three to four hours away.

Kotil noted Turkish Airlines’ 187 destinations make Istanbul the second largest hub in the world in terms of single carrier destinations, after Atlanta, where Delta (DAL_) has 200 destinations. Dallas, where American(AAMRQ.PK) has 171 destinations, is third.

Turkish Airlines has 370 daily departures from Ataturk International Airport and carries about 80% of the traffic.

In the first half of 2012, revenue rose 36% to $3.7 billion, capacity grew by 19% and the carrier reported a profit of $90 million. Revenue per kilometer rose 24%. The fleet of 184 Boeing and Airbus planes, averaging about six years in age, has grown from 62 aircraft in 2003. The carrier is 49%-owned by the Turkish government; its shares trade on the Istanbul Stock Exchange. Shares are up about 70% this year.

via Expanding Turkish Airlines Will Boost U.S. Service – TheStreet.

September 11, 2012
Canadian Solar expands in Turkey and North Carolina; LDK Announces Date of Q2 Release

The panels will be installed by Gehrlicher Merk Solar, which is a joint venture between the Springfield-based Gehrlicher Solar America Corp and the Turkish Merk Solar Enerji, a subsidiary of Akfel Group

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Canadian Solar expands in Turkey and North Carolina; LDK Announces Date of Q2 Release

Canadian Solar Inc. (NASDAQ:CSIQ), has announced that it is going to supply solar panels in Bursa, Turkey, for a government project. This will be the state’s first and largest PV project, with a capacity of 96kW, and enjoys the direct support of the office of the Prime Minister. The panels will be installed by Gehrlicher Merk Solar, which is a joint venture between the Springfield-based Gehrlicher Solar America Corp and the Turkish Merk Solar Enerji, a subsidiary of Akfel Group.

The project will use CS6P-P high performance modules. Mr. Omer C. Karahan, the chief executive of Gehrlicher Merk Solar, has revealed that after the “evaluation of the offers of 13 different solar module manufacturers, we chose Canadian Solar due to the excellent customer service, proven quality and performance of their products.” The CEO has further expressed that they are hoping to develop a long-term relationship with Canadian Solar, as the country is ripe for solar project opportunities after the 600MW capacity target for 2014 was revealed by the government.

Dr. Shawn Qu, chief of Canadian Solar, said, “The solar project in Gursu is an essential step forward in our business development efforts in the emerging Turkish renewable energy market.” This won’t be Canadian Solar’s first exposure in Turkey. The business had earlier supplied modules for a 45kW solar rooftop plant, which is currently the largest rooftop installation in the country. “We hope to participate in further ground-breaking projects with our partners, especially when the expected 600MW tendering procedures become officially effective.” said Dr. Qu.

The business also announced on Wednesday that it has started to develop a 2.5MW solar project in North Carolina with Mortenson Construction. The PV system for the project, which is owned by Canadian Solar, will be developed by Birdseye Renewable Energy, while Mortenson Construction will provide the design and engineering services. The construction will be completed by the end of the year, at which point it will provide 3,483 MWh of electricity each year, enough to power 300 homes.

In another development solar wafer and module manufacturer, LDK Solar Co., Ltd (ADR) (NYSE:LDK) announced that it is going to report the second-quarter results before the markets open on Monday 17th September, which will be followed by a live conference call at 08:00 ET. The company’s credit rating was cut recently by one notch to A by Shanghai Brilliance Credit Rating & Investors Service, due to decreasing production levels and negative export outlook. The firm’s $70M bonds ratings, which are due in December 2014, were also reduced to A from A+. The rating agency believes that the US tariffs and emerging threat of restrictions in Europe mean that the Chinese solar companies will find it increasingly difficult to operate. In its previous results, LDK had reported a net loss of $185.2M, against a profit of $135.4M in 2011 in the corresponding period.

via Canadian Solar expands in Turkey and North Carolina; LDK Announces Date of Q2 Release | SolarPVInvestor.

September 7, 2012
Alarko to bid to build third Istanbul airport

(Reuters) – Turkey’s Alarko Holding , a conglomerate with interests in construction, energy and tourism, wants to bid in a consortium for a tender to build a third airport in Istanbul, Chief Executive Ayhan Yavrucu told Reuters on Thursday.

Speaking at the Airex aviation exhibition in Istanbul, Turkish Transport Minister Binali Yildirim said they were aiming for the first stage of the airport to open in 2016.

Yildirim announced the tender competition for the Istanbul airport last month with a view to completing the bidding by the end of 2012 after spending 18 months choosing the site.

The airport is to have an initial capacity for 90 million passengers a year, extending eventually to 150 million passengers, and three runways. Yildirim said last month 80 percent of the site would be public land and the rest bought by the state from private owners. (Reporting by Ceyda Caglayan and Evrim Ergin, writing by Seda Sezer, editing by William Hardy)

via Alarko to bid to build third Istanbul airport | Reuters.

September 7, 2012
Turkey’s EU Bid Is ‘Stalled,’ Cyprus to Blame, Van Rompuy Says

Turkey’s bid to join the European Union is “stalled” and Cyprus is to blame, EU President Herman Van Rompuy said.

Cyprus, its northern part occupied by the Turkish army, has used its veto power as an EU member to freeze Turkey’s entry talks since mid-2010. The Cypriot government now holds the EU’s six-month rotating presidency, making progress before 2013 unlikely.

“Were it not for some challenges from one of the members of the European Union, Cyprus, we would have made more progress when it comes to Turkey,” Van Rompuy told a Brussels conference today. “I acknowledge that negotiations on enlargement are stalled for the time being because one of the members of the club has problems with the process.”

Since opening the entry negotiations in 2005, Turkey has completed talks in only one of 35 EU policy areas. Its failure to advance contrasts with Croatia, which started the process at the same time and is scheduled to join the bloc in July 2013.

“Intensive discussions are ongoing and I hope to visit Turkey to get that message across,” Van Rompuy said.

via Turkey’s EU Bid Is ‘Stalled,’ Cyprus to Blame, Van Rompuy Says – Businessweek.

September 6, 2012
Ebay office by OSO Architects, Istanbul

by retail design blog

The new office of “E-bay – Gitti Gidiyor” which is one of the most important players of e-trade in global and local markets is located in My Office Building in Istanbul Atasehir. The office is positioned on one floor of 2000m² with a ceiling height of 530cm.

In line with the global trend of change in today’s modern offices, E-bay Istanbul office is planned as an “open office”. Accordingly, the inside office areas can be described by 4 functions:
– The entrance hall & social facilities
– Open office
– Meeting rooms
– Technical & service areas

The entrance hall that will build the initial perception of visitors for the office is designed as an impressive & inviting place. The desired “inviting sense” is emphasized by the natural wood work at the floor and ceiling and by the reception desk positioned at the back. The wooden pergola representing the entrance hall and invites people to walk through the reception.

The semi permeable pergola ensures the building of a visual relationship with the “social area” behind the entrance, whereas strengthening the building of an effective impression with this visual sophistication. “E-bay” s globally existence and the fact that you are in the Turkish office in time being is symbolized with the stilized world map and red colour Turkey perception in the left of entrance hall.

The “social place” positioned behind the entrance hall is the only place visitors allowed to see, besides the meeting rooms. So, the place welcoming the visitors and used for celebrations of office staff in-house also includes various services like; cafe-bar, library, on-line music, TV, projection and play station games. This place gathering improvised activities such as quick meetings as well as international presentations, serves as an “agora” where the staff can entertain & interact. A terrace is related with this place which can also be used as a smoking area.

The open space working area holds 164 staff on 1.100m2 with a maximum of 225 seats. The ceiling design of the open space -which is a challenge to overcome the typical acoustical problems encountered in such areas, reflects an irrational order of lighting instruments and acoustical panels.

The ordered and monotonous effect of furnish plan is avoided by the chaotic and colorful design of this cavernous suspended ceiling which enables to perceive the full height of the space. The circle carpet pattern which is used in other branch offices as well is applied to reflect the company’s corporate identity.

There are 12 meeting rooms with different sizes 7 of which are used externally. Each meeting room has a name and a digital door print symbolizing a historic place such as Boğaziçi, Efes, Nemrut, Galata, etc… The hi-tech infrastructures of the rooms are export from UK. Acoustical panels are used in ceiling design of these rooms where international meetings are held.

Designer: OSO Architecture
Project Team: Okan Bayık, Serhan Bayık, Ozan Bayık, Armağan Ekiz
Floor Area: 2.000 m²
Project Management, Mechanical Project, Electrical Project: EE Istanbul
Construction: Decart Insaat, Ege Klima , Ozısık Elektrik
Wood Works: Trimline
Lighting Design: OSO Architecture
Lighting: Demiralp Aydınlatma
Photos: Gürkan Akay

September 6, 2012
Turkish budget carrier to take on flydubai with Dubai links

Turkey’s budget carrier Pegasus is expanding to the Gulf with flights from its Istanbul base to Dubai in the UAE beginning in October.

Using its Sabihir Gokcen main base in the Asian side of Istanbul, Pegasus will also provide a low cost hub route to many places in Europe via its 20-year-old low cost network.

As Turkey’s largest private carrier, Pegasus includes Northern Cyprus as well as many major European and Turkish domestic destinations.

Costs for the one way flight between Dubai and Istanbul are likely to be in the region of AED377 – or just over US$100. It will compete with flydubai on the route.

Both Turkish Airlines and Emirates also serve the two cities.

via Arabian Aerospace – Turkish budget carrier to take on flydubai with Dubai links.

September 5, 2012