Skip to content Skip to Search
Skip navigation

Turkish Airlines nears $20bn deal with Airbus and Rolls-Royce

By Pramod Kumar
The Turkish Airlines deal with Rolls-Royce and Airbus will be announced later this month Creative Commons
The Turkish Airlines deal with Rolls-Royce and Airbus will be announced later this month

State-backed Turkish Airlines is expected to sign an agreement with UK’s Rolls-Royce Holdings Plc and European planemaker Airbus to manufacture $20 billion worth of aircraft components locally.

The deal will be announced in Istanbul later this month, Bloomberg reported, quoting Turkish officials who were aware of the agreement.

Last December the Turkish national carrier announced its fleet expansion by purchasing more than 200 Airbus aircraft.

Person, Electronics, Mobile Phone

Newsletter
Get the Best of AGBI delivered straight to your inbox every week

As part of the order, Istanbul pushed for local production of airplane parts, the report said.

State-owned Tusas Engine Industries will be one of the Turkish companies manufacturing aircraft components.

The aircraft deliveries are slated to start in 2026.

Turkish Airlines CEO Bilal Ekşi said in December 2023 that the airline plans to increase its fleet size to 813 aircraft by 2033 as part of its expansion drive.

Latest articles

Investment app Sarwa had more than 180,000 registered users by the first quarter of 2023

Investment app Sarwa fined by Dubai and Abu Dhabi regulators

Investment platform Sarwa Digital Wealth has been fined AED1,151,000 ($313,500) by regulators in Dubai and Abu Dhabi for offering shares and securities without an approved prospectus. The Dubai Financial Services Authority (DFSA) said on Tuesday that it had imposed a penalty of AED701,815 on the fintech.  On the same day, the Financial Services Regulatory Authority […]

UK Prime Minister Rishi Sunak said the pledge ' sets a precedent for global standards on AI safety'

UAE joins AI safety pledge at UK-South Korea summit

Two artificial intelligence companies from the UAE have signed up to a new AI safety pledge and have committed to safe development of the technology. Abu Dhabi’s Technology Innovation Institute and G42 are among 16 names on the safety pledge that also includes Amazon, Google, IBM, Meta, Microsoft, OpenAI and Samsung. The announcement was made […]

Turkey FAB Yapi Kredi

First Abu Dhabi Bank targets Turkish lender

One of Turkey’s largest corporations has confirmed it is in talks with First Abu Dhabi Bank (FAB) over the sale of a majority holding in the Istanbul-headquartered lender Yapı Kredi, the country’s fourth largest private bank in terms of assets.  A report by Reuters on May 21 said sources told it FAB was offering around […]

Bruno Le Maire said France was also ready to help the UAE develop its own nuclear power plants

France ‘open’ to UAE investing in its nuclear plants

The French government is open to the UAE investing in the country’s nuclear power sector, its economy minister has said. Bruno Le Maire spoke to journalists in Abu Dhabi ahead of talks with Sultan Al Jaber, the UAE minister of industry and advanced technology, and Khaldoon Al Mubarak, chief executive of investment fund Mubadala and […]