Boeing Earns US $11B Contract From Recovering Turkish Airlines

September 27, 2017
Written by Admin TOA
Published in Businessman

In recent reports, Turkish Airlines revealed that the company is planning to acquire 40 of Boeing (NYSE:BA)'s 787-9 Dreamliners. This has been a long-awaited arrangement in which indicates that the carrier has bounced back after a terrorist attack on its Istanbul headquarters in the preceding year. Once it gets done, the deal is estimated at a value of US$11 billion before the expected concessions for massive aircraft procurements. According to the pact on Thursday in a brief signing ceremony in New York, such decision sprouted from years of market research. Also, as the airline designed its expansion, negotiations for wide-body planes were done.

Dreamliners as the Carbon-Composite of Boeing will help on the advancement of the Turkish’s fleet of a long-range aircraft as it contends with other Middle Eastern airlines amidst decelerating development in the expanse.

The transporter's development would accelerate President Recep Tayyip Erdogan's objective of making Istanbul one of the global leading air travel companies.

At the time being, the airline presently holds 75 Boeing 737 Max jets on order, as stated by the aircraft maker’s website.

Turkish plans to shift operations from Istanbul's Ataturk Airport to a new hub, which is due to open at the end of the year.

Boeing vice president of sales for the Middle East, Russia and Central Asia, Marty Bentrott told reports:

The arrangement highlights the sustained interest from the airline commerce in mid-sized twin-aisle aircraft even as sales lessen for aircrafts that seat beyond 400 itinerants.

The Chief Executive Officer of Boeing Dennis Muilenburg, has recently revealed that it currently has plans to accelerate the production of its Dreamliner by 17% in 2019. Boeing's most innovative 14-jet recurrent stride would be an individual best for multifaceted twin-aisle aircraft like the 787.

This can also provide Boeing a competitive edge over its rivaling contenders such as Airbus by introducing additional transport slots for the sold out jet.

The European aircraft manufacturer has been progressively striding up its productivity of A350 after primary deliveries were interrupted by delayed cabin gear.

Officially recognized as Turk Hava Yollari AO, Turkish has aspired to take benefit from Istanbul's historic position as an international junction networking both the east and the west.

The initiative summaries a premeditated agenda intended at strengthening studies, manufacturing and skills growth for Turkish transporters, service establishments and providers.