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AtlasGlobal’s chairman, Murat Ersoy, turned heads last year when he pledged to create an alliance of nine different airlines spread across the world.
The Turkish carrier’s appetite for overseas subsidiaries was not by itself surprising. The company rebranded from AtlasJet in 2015 to underline its global aspirations, and it already holds shares in three such ventures: AtlasGlobal Ukraine, Iraq’s ZagrosJet and Kazakhstan’s Jet One.
But the scale of the plan – and its focus on protected markets like Saudi Arabia and Russia – shocked many, particularly given the difficulties that Ersoy has encountered with his existing subsidiaries...