VİB Turizm granted three-month concordat period

The Sakarya Asliye Ticaret Mahkemesi has granted a three-month temporary concordat period to VİB Turizm, a long-standing intercity passenger transportation cooperative based in Sakarya. The decision, dated August 28, 2026, initiates a formal process to evaluate the company's financial viability and its potential to restructure debts.

To oversee the process, the court appointed three temporary concordat commissioners: Prof. Dr. Ali Taş, Prof. Dr. Habib Yıldız, and Prof. Dr. Selahattin Karabınar. These commissioners are tasked with examining the company's financial structure and the feasibility of its concordat proposal to report back to the court.

VİB Turizm has been operating in the road passenger transport sector for 29 years. Financial records indicate that the company reported no tax base for the years 2024 and 2025, suggesting that expenses may have exceeded revenues or that no net profit was achieved during those periods.