Turkish Airline strikes wage deal with unions

Turkish Airlines has reached a wage deal with a union representing its staff, averting a strike at the peak of the tourist season. News of the deal sparked a five per cent rise in the company's shares.

The announcement came after a final round of talks between the company's management and the Hava-Is union, which represents more than 11,000 staff at Turkish Airlines, including pilots and attendants.

Under the deal, the airline's staff will receive a wage hike of 10 per cent, plus a one-off increment of 80 lira this year.

Next year, the staff will get a wage rise of inflation plus 3 per cent in the first half and inflation plus 4 per cent in the second half. Inflation stood at an annual 6.9 per cent in July, although the central bank says it will come down to 4 per cent.