Free Trial

Turkish Airlines to expand fleet with 225 new Boeing aircraft after Erdoğan's US visit

Turkish Airlines aircraft are seen at Istanbul Airport in Istanbul, near the Black Sea shores, Friday, Oct. 3, 2019. (AP Photo/Emrah Gurel, File)

Key Points

  • Turkish Airlines plans to expand its fleet by ordering 225 new Boeing aircraft, including B787-9, B787-10, and 737 MAX models.
  • The announcement follows President Erdoğan's meeting with U.S. President Donald Trump, potentially signaling improved relations affecting defense and trade.
  • The airline will place 50 confirmed and 25 optional orders for its long-haul B787 models, set for delivery between 2029 and 2034.
  • Negotiations are ongoing with CFM International for engines related to the 737 MAX aircraft before the order is finalized.
  • Five stocks to consider instead of Boeing.

ANKARA, Turkey (AP) — Turkish Airlines, Turkey’s national carrier, has announced plans to add 225 Boeing aircraft to its fleet.

In an a declaration to the Istanbul Stock Exchange on Friday, the airline said it has decided to purchase 75 Boeing B787-9 and B787-10 aircraft and has completed negotiations with Boeing to acquire 150 737-8/10MAX models.

The announcement was made a day after Turkish President Recep Tayyip Erdogan met with U.S. President Donald Trump in Washington.

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.

The company is in negotiations 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 150 737-8/10MAX aircraft, with 100 confirmed and 50 optional, and will proceed with the order once talks with engine supplier CFM International are successfully concluded.

Turkish Airlines operates one of the world’s largest flight networks.

On Thursday, Trump signaled the U.S. may soon lift its hold on the sale of advanced fighter jets to Turkey, a NATO ally. During Trump's first term, the U.S. removed Turkey from its flagship F-35 fighter jet program in 2019 following Ankara's purchase of a Russian-made air defense system.

Should You Invest $1,000 in Boeing Right Now?

Before you consider Boeing, you'll want to hear this.

MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Boeing wasn't on the list.

While Boeing currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.

View The Five Stocks Here

(Almost)  Everything You Need To Know About The EV Market Cover

Looking to profit from the electric vehicle mega-trend? Enter your email address and we'll send you our list of which EV stocks show the most long-term potential.

Get This Free Report
Like this article? Share it with a colleague.

Featured Articles and Offers

Recent Videos

America Is Rebuilding — 3 Stocks Set to Soar
The Nuclear Solution: 5 Must-Know Plays for the AI Energy Surge
AI vs. Wall Street: 5 Names It Loves Right Now

Stock Lists

All Stock Lists

Investing Tools

Calendars and Tools

Search Headlines