ISTANBUL: Turkish Airlines said on Friday it would order 75 Boeing 787 aircraft and had completed negotiations to buy 150 737 MAX planes, subject to engine talks, unveiling a long-awaited deal after a meeting between the two countries' leaders.
President Tayyip Erdogan on Thursday met U.S. President Donald Trump, who said he believed Turkey would agree to his request to stop buying Russian oil and that he may lift U.S. sanctions on Ankara so it can buy American F-35 jets.
Trump said ahead of the talks that the Boeing order would also be under discussion.
LOOKING TO BOOST ITS GLOBAL REACH
Turkish Airlines is looking to boost its global reach and recently bought a minority stake in Spain's Air Europa, outlasting its European rivals Lufthansa and Air France-KLM.
In a statement to the Istanbul stock exchange, the carrier said it decided to purchase 75 wide-body B787-9 and B787-10 models from U.S.-based Boeing, consisting of 50 firm and 25 option orders.
Deliveries are scheduled between 2029 and 2034.
Negotiations were ongoing with Rolls-Royce and GE Aerospace regarding engines, spare engines and engine maintenance services for the planes, it said.
Turkish Airlines also said it completed negotiations with Boeing on the purchase of another 150 aircraft, consisting of 100 firm and 50 option orders for narrow-body 737-8/10 MAX models.
It said orders for the 737-8/10 MAX aircraft would be placed subject to the successful conclusion of discussions with engine manufacturer CFM International.
Turkish Airlines shares were up 0.15% at 328.75 lira in Istanbul in early Friday trade.
EXPANSION PLANS
The deal has been a long time in the making, with the company's chairman having revealed details on the planned purchase of 225 aircraft in June 2024.
"With these orders, our entire fleet aims to consist of new-generation aircraft by 2035, thereby strengthening operational efficiency and supporting an average annual growth rate of around 6%," the company said in Friday's statement.
According to its 2023-2033 strategic plan, Turkish Airlines aims to expand its fleet to over 800 aircraft by 2033. It had 485 aircraft by the end of June, according to its latest presentation.
In line with its strategic plan, the carrier said in May 2023 that it had started talks with the manufacturers in order to procure around 600 aircraft. It placed an order for 355 Airbus planes in December 2023. - Reuters
