It is difficult to buy out an airline that belongs to a state, but Polish officials are willing to privatize the firm despite some resistance among the Polish public, Topçu said to CNN.

“Many airlines have proposed partnerships with us. We have decided on LOT Airlines after analyzing [the offers]. The official negotiations will start as soon as possible,” he said.

“Turkish Airlines has grown three to four times more than the world average for the aviation industry. [Turkish Airlines] has both made investments and maintained profitability. Some 13-14 airlines firms have made an offer, saying, ‘Acquire us.’” Such offers were made during inter-governmental talks, said Topçu, adding that THY’s decision was based on a “win-win” approach.

The Polish economy minister said in December 2011 that LOT would be privatized and that he had wanted Turkish Airlines to acquire it, Topçu said. For the first time, a European airline will take Turkish Airlines as a model if the acquisition is finalized, he added.

The news comes after Turkish Airlines agreed to a partnership late last month with Ukraine’s AeroSvit Airlines that will provide mutual flights between Istanbul and several Ukrainian cities, underscoring THY’s growing interest in Eastern Europe.