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SEPTEMBER 2017

Week 40

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Turkish Airlines to order 40 B787s, A350s?

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September 29th 2017

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Istanbul-headquartered Turkish Airlines is in advanced talks with Boeing to acquire 20 B787-9s on firm order plus 20 options. Read More » Deliveries would run from 2019 to 2023, an airline statement said.

“Our agreement to purchase 787 Dreamliners is a significant step forward in enhancing our passengers’ flight experience as these aircraft are the latest and one of the most advanced in the world,” said Turkish chairman, İlker Aycı. “This order is set to play a key role in our growing business in the years to come, and we look forward to further continuing our relationship with Boeing,” he added. If fully converted, the order would be worth US$11 billion at list prices.

Following the Boeing announcement, Reuters reported Turkish also was seeking an offer from Airbus for 40 A350s, valued at an estimated US$12.4 billion.

State-controlled Turkish Airlines is planning a significant network expansion after relocating to Istanbul’s new airport, which is expected to be completed by the end of 2018. A third runway is scheduled to open in 2020.

Many in the industry are questioning Turkish’s need for these aircraft, considering the airline was still mothballing long-haul jets earlier this year, following an abysmal 2016. Its annual profit slumped from US$1.7 billion in 2015 to a loss of US$77 million for the year to December 31, 2016. Turkish has a well-balanced fleet. Its long-haul services are performed by 61 A330s and 33 B777-300ERs.

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