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National flag carrier Turkish Airlines on Friday announced agreement to buy up to 225 Boeing jets, unveiling a long-awaited deal a day after a meeting between the two countries’ leaders.
In his first White House visit since 2019, President Recep Tayyip Erdoğan on Thursday met U.S. President Donald Trump, who ahead of the talks said the Boeing order would also be under discussion.
The more than two-hour meeting raised Ankara’s hopes of seeing Washington lift sanctions that since 2020 have blocked it from buying American F-35 fighter jets over its purchase of Russian-made S-400 air defense system.
Speaking to reporters on his flight home from Washington, Erdoğan described a “sincere, constructive and productive atmosphere” during the talks. But he sa’d “resolving all problems in a single meeting is, of course, impossible.”
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 an a declaration to the Borsa Istanbul Stock Exchange (BIST) on Friday, the carrier said it has decided to purchase 75 wide-body B787-9 and B787-10 aircraft and has completed negotiations with Boeing to acquire 150 737-8/10 Max models.
Turkish Airlines will place 50 confirmed and 25 optional orders for the B787-9 and B787-10 aircraft, scheduled for delivery between 2029 and 2034.
The B787-9 and B787-10 are advanced, fuel-efficient long-haul aircraft designed for international travel, the airline said in a statement.
Negotiations are ongoing with Rolls-Royce and GE Aerospace for the procurement of engines, spare parts and maintenance services for the aircraft, the statement said.
Separately, Turkish Airlines said it has finalized negotiations with Boeing for 150 narrow-body 737-8/10 Max aircraft, with 100 confirmed and 50 optional.
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.
Boeing said the orders will support 123,000 jobs across the United States. It noted that it has offices in Ankara and Istanbul and has invested $2 billion in supply chain development in Türkiye, creating nearly 5,000 jobs there.
Turkish Airlines operates one of the world’s largest flight networks. Its shares were up 0.15% at TL 328.75 in Istanbul in early Friday trade.
Expansion plans
The deal has been a long time in the making, with the company’s chairperson 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.
The Boeing deal follows Turkish Airlines’ December 2023 announcement of a 355-plane order from European rival Airbus.
