However, Borajet’s flying adventure was disrupted after a while and from 2016 rumors circulated that the company was making losses and would be sold. Shortly after these rumors Borajets We also heard that the sale, which turned out to be a disaster, had been completed.

While all was going well, the company was suddenly put up for sale and the sale was rushed through. Borajet, which has 13 aircraft in its fleet, In Turkish private aviation Why did he suddenly disappear when he played an important role and revived the industry?

Let’s look at the issue from the very beginning, from the inception of the company.

Our country has achieved an important breakthrough in the field of air transport since 2003. Mainly on domestic lines Turkish airlines The monopoly was abolished and private companies were given the opportunity to fly.

released during this period Onur Air, Atlas Jet and Pegasus There were many private companies like. As you can imagine, this quickly created a competitive environment and it became possible to see many companies on domestic routes.

But in Turkey Individual aircraft use did not yet exist at that time. For example, if your main base is Ankara, these planes allow you to pick up passengers from places where passenger demand is low to the main centers. In short, with such small planes it was possible to reach smaller places. Borajet did exactly this.

Turkish businessman living in the US in 2009, when there was no regional aircraft initiative in Turkey Yalcin Ayasli started this project.

Ayaslı had announced that he would take steps to establish a regional airline.

ATR-72

Yalçın Ayaslı, who is interested in aviation, has made very important breakthroughs in developing this technology. The first of these and his first step into the industry was Orhan Air, which he founded together with Faruk Bayındır. Next one Civil Aviation in 2010 Borajet, which officially started its flights by obtaining its permit, arrived.

The then airline Borajet He used aircraft of the ATR 72 type. While everything went well initially, over time flights began to be made to short-haul destinations with low passenger capacity. Although there were disruptions in flights, flights without passengers were canceled very often.

Later, the company removed its ATR 72 aircraft from its inventory and replaced them with Designed in Brazil switched to new types of aircraft. This was a significant growth spurt for the company; If we consider Turkey for those periods, its purchasing power was quite good.

Gradually, as 2016 dawned, Borajet broke through again Signed an agreement with the Mbrair company to purchase 30 regional aircraft. One of the company’s main objectives was to use Istanbul Airport, which was about to open at that time, as its headquarters. In fact, this was nothing more than a breakthrough to increase the value of the company.

The main investor sought in the company was Sezgin Baran Korkmaz himself.

Borajet was looking for an investor, even as flights decreased. SBK Holding announced on December 30, 2016 that it has acquired Borajet. The amount paid to the company was a very serious amount of $260 million. After the purchase, the company’s color changed to that of the company’s fleet It turned out that 6-7 of the 13 planes could not fly.

As the situation becomes more and more complex Sezgin Baran KorkmazProf., who sold the company to them and claimed that he had discovered a loss of $150 million that was not visible on Borajet’s balance sheet. He filed a lawsuit against Ayaslı. Ayaslı, on the other hand, denied all allegations and refused to pay what was owed to him from this sale. He stated that not a cent of $400 million had been paid.

Accusations about Korkmaz followed.

Although there are reports that Korkmaz has revived and resold failing companies, the reality is that black money The point was that he came to Turkey to be acquitted. Gradually it became clear who Korkmaz was doing business with in the US.

His name was mentioned with names such as Jacob and Isaiah Kingston, brothers known as the Mormon Brothers, and their associate Levon Termendzhyan, who were tried in the state of Utah. This trio stood trial on charges of defrauding the US Treasury of $1.5 billion.

In 2017, Korkmaz Borajet stopped his flights and said he would reorganize and start flights. But the holding company sank even further as they tried to get the company on track.

Although they announced it would be operational, this never happened Borajet turned into an airline that officially no longer exists. It is not clear who benefited from what happened in this process and who benefited from this sale.

However, on November 7, 2019, Borajet Bakırköy’s 1st Execution and Bankruptcy Directorate officially announced that it was bankrupt. and the operations of the first regional airline of Turkish civil aviation officially ended with such a snake story.

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