{"id":61074,"date":"2024-04-07T20:23:09","date_gmt":"2024-04-07T14:53:09","guid":{"rendered":"https:\/\/aviationa2z.com\/?p=61074"},"modified":"2024-04-07T20:23:14","modified_gmt":"2024-04-07T14:53:14","slug":"turkish-companies-to-make-airbus-aircraft-parts","status":"publish","type":"post","link":"https:\/\/aviationa2z.com\/index.php\/2024\/04\/07\/turkish-companies-to-make-airbus-aircraft-parts\/","title":{"rendered":"Turkish Companies to Make New $20 Billion Worth Airbus Aircraft Parts in Turkey"},"content":{"rendered":"\n

ISTANBUL-<\/strong> In recent months, Turkish Airlines (TK) <\/a>has finalized an agreement with Airbus <\/a>to purchase 350 aircraft valued at $70 billion. Turkish Airlines is gearing up to partner with Rolls Royce and Airbus for production ventures in Turkey. A ceremony is scheduled to take place in Istanbul on April 28, during which Turkish companies will commence the production of components for Airbus and Rolls-Royce.<\/a><\/p>\n\n\n\n

Over 30 companies have been invited to attend this event, which is anticipated to generate a business volume of $20 billion for Turkish enterprises.<\/p>\n\n\n\n

\"Turkish
Photo: Turkish Airlines<\/figcaption><\/figure>\n\n\n\n

Turkish Airlines Airbus Deal<\/h2>\n\n\n\n

Ahmet Bolat, Chairman of the Board of Directors and the Executive Committee of Turkish Airlines, commented, <\/p>\n\n\n\n

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“We are on the verge of signing a significant agreement to initiate production operations in Turkey. Approximately 30 Turkish companies specializing in the civil aviation sector have been invited to the signing ceremony, which will also be attended by Turkey’s Ministers of Trade, Industry, and Technology, and Treasury and Finance, along with their counterparts from the UK. State-owned companies such as TAI, TAI, and HAVELSAN will contribute to the production of aircraft parts for Airbus and Rolls Royce. Turkish Airlines will establish a joint committee involving Airbus and Rolls Royce, with THY serving as the coordinator. This committee will oversee the implementation of the agreement at production sites. Aircraft manufacturers stipulate that critical components within the aircraft should be sourced from at least two manufacturers, ensuring production continuity. Our companies will be involved in producing a greater number of parts, thereby augmenting our presence in the global aviation industry. We aspire to enhance the contribution of the $20 billion agreement we will sign to our country’s economy.”<\/p>\n<\/blockquote>\n\n\n\n

In November last year, Turkish Airlines finalized an agreement with Airbus to acquire over 350 aircraft<\/strong>, comprising 85 A350-900s, 15 A350-1000s, 5 A350 cargo planes, and 250 A321neos.<\/p>\n\n\n\n

The initial contract for this order was inked during a gathering attended by top executives from Turkish Airlines and Airbus in Istanbul.<\/p>\n\n\n\n

\"Turkish
Photo: Copyright to CLEMENT ALLOING PHOTOGRAPHIE | Flickr<\/figcaption><\/figure>\n\n\n\n

TK’s 2023 Results<\/h2>\n\n\n\n

Despite prevailing geopolitical tensions and macroeconomic uncertainties, Turkish Airlines achieved a significant milestone in 2023, transporting 83.4 million passengers. This accomplishment stemmed from its ability to outpace competitors through rapid capacity expansion, leveraging its flexibility, extensive route network, and a skilled workforce that was maintained throughout the pandemic.<\/p>\n\n\n\n

The company witnessed a remarkable 23.5% increase in domestic passenger capacity compared to 2022, surpassing 30 million passengers. Additionally, international routes saw a 16% capacity growth, with Turkish Airlines accommodating 53 million passengers<\/strong>, marking a 14% increase. <\/p>\n\n\n\n

Noteworthy is the more than 20% year-over-year surge in passenger numbers in European countries with sizable Turkish populations.<\/p>\n\n\n\n

While global international airline capacity remained 12% below 2019 levels in 2023, as indicated by the International Air Transport Association (IATA)<\/a>, Turkish Airlines distinguished itself by surpassing its 2019 international capacity by 27%.<\/p>\n\n\n\n

Furthermore, due to Turkey’s investments in aviation infrastructure, Istanbul Airport emerged as the leading European airport in terms of daily flight frequency.<\/p>\n\n\n\n

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Photo: Turkish Airlines Hub | Istanbul (IST) is Turkish Airlines he\u2026 | Flickr<\/figcaption><\/figure>\n\n\n\n

Eyes Fleet of 800 Aircraft<\/h2>\n\n\n\n

Covering 133 countries across 364 destinations with a fleet consisting of 24 freighters and 416 passenger aircraft, Turkish Cargo witnessed a notable 16% increase in freight ton kilometers compared to 2019.<\/p>\n\n\n\n

Over the past decade, the company has tripled its market share in the air freight industry, solidifying its position by ranking fourth among the world’s leading air cargo carriers, according to IATA’s 2023 data.<\/p>\n\n\n\n

In line with its 100th Anniversary Strategy aiming to expand its fleet to 800 aircraft by 2033, Turkish Airlines boosted its aircraft count by 12% to reach 440 in 2023. This achievement is noteworthy given the global challenges encountered in aircraft procurement and bottlenecks in aircraft production.<\/p>\n\n\n\n

With a workforce exceeding 83,000 across its subsidiaries, the national carrier proudly embodies its country’s global air transportation sector presence. Renowned for its extensive and distinctive flight network, state-of-the-art fleet, and exceptional service, Turkish Airlines establishes benchmarks within the industry.<\/p>\n\n\n\n

The accomplishments of 2023 serve as a testament to our steadfast commitment to upholding these benchmarks. Our unwavering commitment to fostering sustainable growth within the aviation sector remains aligned with national development objectives and our strategy for 2033.<\/p>\n\n\n\n

Stay tuned with us. Further, follow us on social media for the latest updates.<\/p>\n\n\n\n

Join us on Telegram Group <\/a>for the Latest Aviation Updates. Subsequently, follow us on Google News<\/a>.<\/p>\n\n\n\n

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Turkish Airlines Orders 150 New Airbus A321 and 70 A350s<\/a><\/blockquote>