Germany-based Flixmobility GMBH, better known as Europe’s leading bus operator FlixBus, has officially applied to Turkey’s competition watchdog to acquire Kamil Koç, the country’s second-largest bus company.
FlixBus said in a statement Wednesday that the global mobility provider and Kamil Koç’s have agreed on the sale.
Accordingly, an application made before the Competition Authority (RK) for the takeover and the details of the deal pending approval.
The acquisition signals a relief for Turkey’s giant intercity bus market, which has shed a significant portion of its passengers to the country’s booming aviation sector. And also developing high-speed train network over the last years. Although named among the best in the world for comfort, including free refreshments and in-car entertainment. The sector has also acquired a bad rap over recent safety issues, deadly accidents, poor service quality, inadequate bus stations, poor software and planning as well as delays. Rising fuel prices have also taken a hit on the sector.
Two renowned companies of the bus market that provided luxury services, Varan and Ulusoy, went bankrupt in 2016 and 2019. But respectively, although Ulusoy still continues its services. Another prominent coach company, Pamukkale, declared bankrupt earlier this year but another court allowed the company to resume operations.
According to DailySabah