Turkey’s MNG Airlines to go public on NYSE

Turkey’s MNG Airlines will list on the New York Stock Exchange through a merger with Golden Falcon Acquisition Corp (GFX.N), a special purpose acquisition company (SPAC), the Turkish cargo carrier said on Wednesday.

The merger has a pro-forma enterprise value of $676 million, and has been approved by the boards of both the companies, MNG said in a statement.

The deal is expected to close in the first half of 2023.

Golden Acquisition Corp, which went public in 2020, is headed by Chief Executive Officer Makram Azar, a former Barclays banker, and counts Xavier Rolet, a former London Stock Exchange CEO, as an independent director.

Istanbul-based MNG Airlines started operations in 1996, and serves corporate customers across 41 countries with more than 3,500 flights per year.