The Turkish Privatization Authority (T.C. Başbakanlık Özelleştirme İdaresi Başkanlığı - OIB) has confirmed that it has completed the transfer of the Turkish government's 49.12% stake in Turkish Airlines (TK, Istanbul Airport), previously held by the Treasury.

In a filing with the Borsa Istanbul on Monday, February 6, the OIB said the shareholding was now held by the country's recently-formed sovereign wealth fund - the Türkiye Wealth Fund.

According to the Hurriyet newspaper, Recep Erdogan's government aims to have the fund manage USD200 billion worth of assets thus generating additional annual growth of 1.5% over the next decade.