Turkish private equity firm SBK Holding has acquired local carrier BoraJet Airlines (YB, Istanbul Sabiha Gökcen) in a deal valued at USD260 million.

In a statement, Borajet said that following the finalization of the agreement with the airline's previous owner, US-based Turkish businessman Yalçın Ayasli, Sezgin Baran Korkmaz, SBK's Chairman of the Board, had joined Borajet's Board of Directors as Chairman effective December 30, 2016.

With a staff compliment of 543, Borajet operates five E190s and five E195s on scheduled passenger flights to destinations throughout Turkey, Germany, Iraq, Northern Cyprus, Lebanon, and Italy. It also provides charter flights to over ten countries through its Borajet Charter unit, established in 2014 and which uses Bombardier Global XRS and Hawker 900XP executive jets.