Bloomberg the Company

Bloomberg Anywhere Login

Bloomberg

Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.

Company

Financial Products

Enterprise Products

Media

Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000

Follow Us

Industry Products

Turkish Airlines to Buy as Many as 20 Boeing 777-300ER Aircraft

Don't Miss Out —
Follow us on:

Oct. 22 (Bloomberg) -- Turk Hava Yollari AO, the flag carrier known as Turkish Airlines, plans to buy as many as 20 777-300ER wide-body aircraft from Boeing Co. as part of an effort to expand its transfer traffic in Europe and Asia.

The Istanbul-based carrier will buy the aircraft between 2014 and 2017, including 5 optional purchases, it said today in a statement to the Istanbul Stock Exchange. The total list price is $4.7 billion, Boeing said in a separate statement. Customers typically buy aircraft at a discount.

Turkish Airlines is stocking up on wide-body jets as it seeks to lure transfer traffic between Europe and Asia away from Air France-KLM Group, Deutsche Lufthansa AG and British Airways-parent International Consolidated Airlines Group SA. Airlines in the Middle East have benefited from a geographic setting that links North American and Asian traffic.

The carrier, which has 188 planes in its fleet now, said Oct. 8 that it will buy 15 A330-300 planes from Airbus SAS. Turkish Airlines has 12 Boeing 777-300ER and 10 A330-300s in its fleet, according to its website. The 777 model that Turkish plans to buy typically seats about 365 passengers in a three-class layout. It boasts the world’s largest jet engine.

Turkish Airlines rose 0.5 percent to 4.05 liras at 4:23 p.m. in Istanbul. The stock has surged 77 percent this year, valuing the company at 4.87 billion liras ($2.7 billion).

To contact the reporter on this story: Ercan Ersoy in Istanbul at eersoy@bloomberg.net

To contact the editors responsible for this story: Benedikt Kammel at bkammel@bloomberg.net

Please upgrade your Browser

Your browser is out-of-date. Please download one of these excellent browsers:

Chrome, Firefox, Safari, Opera or Internet Explorer.