Turkey's flag carrier Turkish Airlines (THY) will purchase five new Boeing 777-300s, the company said on Wednesday.

In a statement sent to the Istanbul Stock Exchange, THY said that the company's executive board decided to buy five Boeing 777-300ER aircraft to be delivered once a month from October 2010 to February 2011.

THY already has three Boeing 777-300ER planes in its fleet. The aircraft were leased from the Indian Jet Airways last year for THY's long-haul flights. THY also launched first-class service with addition of new planes.

http://www.reuters.com/article/marketsNews...20090506?rpc=44

Turkish Airlines orders five Boeing 777-300ERs
Wed May 6, 2009 6:02am EDT

ISTANBUL, May 6 (Reuters) - Boeing Co (BA.N) and Turkish Airlines (THYAO.IS) have signed an order for five Boeing 777-300ER planes valued at $1.36 billion at current list prices, Boeing said on Wednesday.

The purchases are part of a large-scale expansion plan by the partly-state owned flag carrier, which is buying up to 105 planes from Airbus and Boeing by 2023.

The Turkish carrier currently operates a fleet that includes 65 Boeing planes, but Boeing said this was the first time it had purchased new 777s directly from Boeing.

The airline, which has not yet issued a statement on the order, aims to carry 25 million passengers this year, up from 22.5 million last year.

Shares in the airline were unchanged at 8.30 lira on Wednesday.

Turkish Airlines Chief Executive Temel Kotil told Reuters earlier this year the company planned to invest more than $6 billion by 2016, including new plane orders from Boeing and Airbus (EAD.PA) to expand its fleet.

The Turkish carrier's large-scale expansion programme comes as much of the industry cuts capacity and raises fares amid the global economic woes.

Boeing and Turkish Airlines Finalize Deal for Five 777- 300ERs

ISTANBUL, May 6, 2009 – The Boeing Company [NYSE: BA] and Turkish Airlines have signed an order for five Boeing 777-300ER (Extended Range) airplanes valued at $1.36 billion at current list prices. This is the first time Turkish Airlines has purchased new 777s directly from Boeing. The airline currently operates a fleet of 65 Boeing airplanes including Next-Generation 737s and leased 777-300ERs.

"The 777-300ER will provide Turkish Airlines with exceptional fuel economy, efficiency and reliability, combined with unmatched levels of payload and range," said Aldo Basile, vice president of Sales for Europe, Russia and Central Asia, Boeing Commercial Airplanes. "It will also help Turkey build on its position as a rapidly growing market of international importance."

The Boeing 777-300ER is 19 percent lighter than its closest competitor, greatly reducing its fuel requirement. It produces 22 percent less carbon dioxide per seat and costs 20 percent less to operate per seat. The airplane can seat up to 365 passengers in a three-class configuration and has a maximum range of 7,930 nautical miles (14,685 km). The 777 family is the world's most successful twin-engine, twin-aisle airplane. Fifty-six customers around the world have ordered more than 1,100 777s.

Turkish Airlines is one of the fastest growing and prosperous airlines in the world. It carries approximately 20 million passengers a year, with direct flights to 108 international and 33 domestic destinations. The airline was founded in 1933 with a fleet of five airplanes that carried a total of 28 passengers. The airline made its first domestic flight in 1933 and the first international flight in 1947.

This order will be posted to the Boeing Orders and Deliveries Web site, http://active.boeing.com/commercial/orders/index.cfm, May 7.