Turkmenistan Airlines

Stock performance

History

Turkmenistan Airlines was established in 1992, shortly after independence, out of the local division of the Soviet carrier Aeroflot. It replaced its Soviet-era aircraft with a Boeing-led fleet over the following decades, flying from Ashgabat's large, newly built international airport.

Business model

As the state-owned flag carrier and the country's only airline, it operates domestic routes connecting Ashgabat with regional cities and a limited international network to destinations in Turkey, Russia, Asia, and Europe. Domestic fares are heavily subsidized.

Market position

Turkmenistan Airlines faces no domestic competition and has a small international footprint, having at times faced restrictions on its flights to the European Union over safety-oversight concerns.

Country impact

In a country with tight controls on foreign travel and few foreign carriers, the airline is one of the main links to the outside world and an important part of the state's prestige infrastructure projects.