Turkish Airlines to double its fleet with order for 230 Airbus planes

The deal includes narrow-body and wide-body aircraft as Turkish carrier seeks to double fleet size

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Objectives

Details

Airbus records second-largest win in a week

Big orders like this have become more common this year

Turkey emerges as major global aviation hub

Airbus and Boeing post near-record orders this year

Turkish Airlines announced on Friday that it has ordered 230 planes from Airbus, worth billions of dollars.

The deal includes narrow-body and wide-body aircraft, with the Turkish carrier set to purchase 60 long-range A350-900s, 15 A350-1000s, and 150 A320neos.

The deal comes after a preliminary agreement between the two companies in Istanbul last month.

Objectives

Turkish Airlines aims to double its fleet size with the deal over the next decade.

“This will further strengthen our leading position in global aviation and contribute to Turkey’s prominence as a global aviation hub,” said Ahmet Bolat, chairman of the board of Turkish Airlines, in a statement.

The deal is Airbus’ second-largest win in a week, after it announced an order for 100 A320neos from Avolon Holdings,
a leasing company, on December 12.

Big orders like this have become more common this year, as buyers rush to secure delivery slots that are becoming increasingly scarce.

Airbus and Boeing

Airbus and Boeing have sold out nearly all of their backlogs of popular narrow-body models in the current decade,
and the buying spree is now starting to move into the higher-priced wide-body market.

Turkey has emerged as a major global aviation hub, and it is competing with large hubs such as Dubai and Doha as a gateway for flights between the United States, Europe, and Asia.

The carrier also has a strong presence in Africa, using its relatively new Istanbul airport as a hub for connecting flights.

Airbus and Boeing have posted near-record orders this year, as the aviation sector continues to recover from the pandemic.

The International Air Transport Association (IATA) said this month that global airlines are on track to post record revenues this year, and that the gains will extend into 2024.

The deal had a positive impact on the stocks of both companies, with Airbus shares rising by about 1.60 euros,
or 1.3%, to 141.64 euros in trading on the Paris stock exchange.

The stock is up 26% this year, putting it on track to post its best annual performance since 2019.

Boeing shares have risen 37% since the beginning of the year.

Turkish Airlines to double its fleet with order for 230 Airbus planes

Turkish Airlines to double its fleet with order for 230 Airbus planes

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