Atlasglobal, a prominent Turkish airline, declared bankruptcy in June 2021, officially confirmed by the Supreme Court.
While this development marks the end of a significant chapter in Türkiye’s aviation industry, the process has been marked by numerous legal developments and appeals.
Legal proceedings
- Initial bankruptcy declaration (June 2021): On June 17, 2021, the Bakirkoy 3rd Commercial Court ruled that Atlasglobal was insolvent. This decision was subsequently appealed to the Regional Court of Appeal.
- Appeal and reversal (September 2022): In September 2022, the Regional Court of Appeal overturned the initial bankruptcy decision, citing procedural issues. The case was returned to the Istanbul 3rd Commercial Court…