Boeing, Turkish Airlines Ink $7 Billion Deal For 70 Aircraft

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The Boeing Company (NYSE:BA) signed a $7 billion deal with Turkish Airlines for 70 airplanes from its 737 family of aircrafts.

Boeing, Turkish Airlines Ink $7 Billion Deal For 70 Aircraft

Turkish Airlines Intends To Order Airplanes From The Boeing Company (BA)

Last month, the Turkish Airlines announced its intention to order airplanes from The Boeing Company (NYSE:BA), which was finalized today. According to the aircraft manufacturer, Turkish Airlines ordered (40) 737 MAX 8’s, (10) 737 MAX 9’s, and 20 Next-Generation 737-800 jets.

The Boeing Company said that the order of Turkish Airlines also included options to purchase additional (25) 737 MAX 8’s. Turkish Airlines’ transaction with Boeing Company (NYSE:BA) is the largest order in the history of the carrier.

In a statement, Temel Kotil, PhD, President and CEO of Turkish Airlines said, “We are delighted to finalize the order, which will considerably expand our fleet and contribute to our continued growth.”

Kotil added, “Turkish Airlines is a global airline, serving the most countries worldwide and we are building the strongest network in the world. Our long-standing partnership with Boeing is one of the key factors behind the success of Turkish Airlines.”

Turkish Airlines serves more than 220 cities in 99 countries worldwide. The carrier currently operates Boeing’s Next-Generation 737’s and 777-300ER (Extended Range) jets.

On the other hand, Todd Nelp, vice president of European Sales of Commercial Airplanes for The Boeing Company (NYSE:BA) said, “Turkish Airlines currently operates more than 85 Next-Generation 737’s, which are the foundation of its successful short-haul operations.  Today’s announcement demonstrates the confidence Turkish Airlines has in the proven reliability, performance and economics of the Next-Generation 737, while the order for 50 737 MAX’s marks a new chapter in their continued fleet expansion, ensuring unrivaled efficiencies and superior passenger comfort.”

According to The Boeing Company (NYSE:BA), the current total number of orders for the 737 MAX is 1,285. The aircraft manufacturer has more than 3,100 unfilled orders for the 737 airplanes.

The aircraft manufacturer’s Next-Generation 737 aircraft is best-selling airplane worldwide, and the 737 MAX builds its reputation and strength from it. The 737 MAX is integrated with the latest technology CFM LEAP-1B engines and provides the highest efficiency, reliability, and passenger comfort in the single-aisle market.

The Boeing Company (NYSE:BA) emphasized that the 737 MAX offers airline operators with a 13 percent improvement in fuel usage, which makes it the most fuel efficient single-aisle airplane.

The stock price of the Boeing Company (NYSE:BA) is up by more than 1 percent to $95.80 per share in the mid afternoon trading in New York.

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