30 August, 2024:
Turkish Airlines, flying to more international destinations than any other airline, continues to expand its fleet with new aircraft acquisitions. Reaffirming its leading position time and again in this regard, the national flag carrier has completed another unique financing transaction.
Two new-generation Airbus A350 aircraft that joined the flag carrier’s fleet in August 2024 are financed in Swiss Franc by KfW IPEX-Bank under the guarantee of European Export Credit Agencies. This unique transaction showcases Turkish Airlines’ ability to diversify and extend its financier base geographically as well as demonstrates a strong financial management approach to take advantage of cost efficiency while minimizing currency risks.
Commenting on the closing of this transaction, Turkish Airlines’ Chief Financial Officer and Member of the Board and the Executive Committee, Assoc. Prof. Murat Şeker stated; “This landmark deal between Turkish Airlines and KfW IPEX-Bank reaffirms our commitment to long-term sustainability goals by modernizing our fleet with new-generation aircraft. We are pleased to strengthen our cooperation with KfW IPEX-Bank through this CHF currency transaction, which aligns with our diversification strategies in aircraft financing. We look forward to continuing our successful partnership with KfW IPEX-Bank.”
Sebastian Blum, Global Head of Mobility at KfW IPEX-Bank expressed that “We are happy to continue and strengthen the long-lasting relationship with our customer Turkish Airlines. Supporting our client’s fleet modernization fits very well with our ambition to contribute to the transformation in mobility in Europe and worldwide.”
Equipped with the most fuel-efficient engines, the modern Airbus A350 wide-body aircraft form an important part of Turkish Airlines’ core long-haul fleet.
Turkish Airlines, the flag carrier of Türkiye, flies to more countries than any other airline and ranks among the ten largest airlines globally. The global brand has recently signed a significant purchase agreement with Airbus for 355 aircraft, positioning Turkish Airlines for one of the largest fleet expansions in the coming years.
