PPRuNe Forums - View Single Post - Turkish Airlines - THY Recruitment (Merged)
Old 21st Sep 2015, 21:12
  #514 (permalink)  
foswillruletheworld
 
Join Date: Mar 2015
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The rumours i got about THY was about 60 captains and 150 first officers leaving since the beginning of this year. Only 120 left for Qatar but i don't know if it is true anymore. However i got the rumours both from THY side and Qatar side.
The currency problem is mainly because of Turkish economy falling apart. Since the first time the U.S. manufacturing low cost dollars and pumping the world with that, most of the clever countries invested on education, building factories with big production lines and technology like South Korea.
You know what Turkey did? They built houses and buildings. It is like the real estate crisis both in Dubai and the sort of mortgage crisis in the U.S. back in 2008.
We have built a lot of real estates and a very big balloon came up. Since the U.S. will raise the interest rate, USD is warming up for a race while TL is calming down.
What will happen after now on?
For sure there will be an economical crisis and it will be big, and it will be deep. Big banks' projections for the USD/TL rate for the end of 2016 is somewhre around 3.85.
So it is not the USD moving up, it is the TL falling down.
Since there also will be a political crisis after the elections, none of the governmental facilities don't want to do any investments(since all of the moves they make are dirty and corrupted) because the next day of the elections, if the opposing party wins, they will start cleaning the mess up from last then backwards.
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