Turkish Airlines wants 105 planes

Source: Agencies  |   2008-10-15  |     NEWSPAPER EDITION

TURKISH Airlines (THY) yesterday said it plans to order up to 105 planes from manufacturers Boeing Co and Airbus, as one of Europe's fastest growing carriers seeks to strengthen its position in the region.

THY, partly owned by the Turkish state, said in a statement that it had invited European and American companies to bid for the tender of 105 aircraft, including options for 30.

THY said its order would be for 25 double-aisle long-haul and 50 single-aisle short and medium-haul planes.

The airline would also place options to purchase 10 double-aisle long-haul and 20 single-aisle aircraft.

THY's fleet expansion comes as the industry struggles with high energy prices, a global financial crisis and consumers increasingly nervous about their purchasing power.

"The THY administration attached utmost importance to the timing of this tender. THY is entering the global crisis and the approaching recession in a strong position commercially and financially," the company said.

Major airlines have already begun rapidly downsizing to offset their soaring fuel bills. Capacity cuts throughout the industry are also likely to cut airline costs and result in higher fares.

The Istanbul-based carrier, along with its Middle East-based peers, sees the current turmoil as an opportunity to expand globally as rival airlines in the United States and Europe suffer.