BOC Aviation Leases Six A321neo Aircraft to Turkish Airlines
BOC Aviation has announced a lease agreement with Turkish Airlines for six Airbus A321neo aircraft, marking an important expansion of its relationship with the Istanbul-based carrier. The aircraft will be supplied from BOC Aviation’s existing order book with Airbus, with delivery scheduled to be completed by 2027.
As the aircraft leasing arm of the Bank of China, BOC Aviation currently manages a fleet of nearly 700 aircraft, valued at around $20 billion. This new lease agreement with Turkish Airlines expands the longstanding partnership between the two companies. Turkish Airlines already operates a diverse fleet of 16 aircraft leased from BOC Aviation, including five A320neos, seven Boeing 737 MAX 8s, and four Boeing 777-300ERs, according to ch-aviation.
Steven Townend, CEO and Managing Director of BOC Aviation, expressed pride in the partnership, stating, “Turkish Airlines is one of our longest-standing customers, and this transaction is a testament to the strength of our relationship. There is strong demand for these latest technology aircraft from our order book, which will drive our growth in the coming years.”
Turkish Airlines has similarly expressed enthusiasm about the new deal. Levent Konukcu, Chief Investment & Strategy Officer at Turkish Airlines, added, “We are pleased to enhance our long-standing relationship with BOC Aviation with the addition of these six new Airbus A321neo aircraft. This transaction further contributes to Turkish Airlines’ mission of providing a modern and efficient travel experience, expanding our route network.”
The addition of these Airbus A321neo aircraft will further strengthen Turkish Airlines’ operations, particularly on short and medium-haul routes. The carrier already operates a significant fleet of A321s, including 65 A321s and 66 A321neos, with an additional 199 A321neos on order. These aircraft typically seat 190 passengers in a two-class configuration, with 16 in business class and 174 in economy. Additionally, Turkish Cargo, the airline’s freight division, operates three converted A321P2F freighters.
As of September 30, 2024, BOC Aviation’s portfolio includes 693 aircraft that are leased to 93 airlines in 48 countries and regions worldwide. With a focus on long-term growth, BOC Aviation continues to build on its diverse portfolio of modern aircraft to meet the needs of airlines like Turkish Airlines. The company’s global presence includes offices in Singapore, Dublin, London, New York, and Tianjin, and it is listed on the Hong Kong Stock Exchange.
Turkish Airlines, with a fleet of 477 passenger and cargo aircraft, continues its aggressive growth strategy. The carrier currently serves 349 destinations worldwide, including 296 international and 53 domestic routes. As part of its ambitious expansion plans, Turkish Airlines aims to become the first major airline globally to fly to every continent, positioning itself as a leading international carrier.
This latest lease agreement with BOC Aviation represents a key step in Turkish Airlines’ continued fleet modernization and network expansion, as it strives to maintain its competitive edge in the global aviation market.
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