urk Hava Yollari AO, or Turkish Airlines, will order at least 15 jumbo airliners valued at $4 billion from Airbus SAS (EAD) or Boeing Co. (BA) as early as next month as it adds routes and seeks acquisitions in emerging markets.
Europes fifth-largest carrier plans to purchase Airbus A380 or Boeing 747-8 planes for delivery after 2014, Chairman Hamdi Topcu said in an interview in Istanbul.
Turkish Airlines is looking at jets bigger than Boeings 330-seat 777, currently the carriers largest model, as it seeks to lure transfer traffic between Europe and Asia away from rivals Air France-KLM Group, Deutsche Lufthansa AG (LHA) and British Airways-parent International Consolidated Airlines Group SA. (IAG)
The price will determine the size of the purchase but it should not be below 15 planes, Topcu said at the companys headquarters near its Ataturk airport hub. We are assessing the purchase plan in the board of directors and will make a decision on this in one month.
Turkish Airlines (THYAO) rose 5.2 percent to 3.03 liras in Istanbul, its biggest gain since Feb. 2 and highest closing price since last August. The stock has surged 43 percent this year, valuing the company at 3.64 billion liras ($2 billion).
An order announcement may be timed to coincide with the Farnborough International Air Show, the largest aerospace event in the world this year, which runs for seven days from July 9, Topcu said, or could come later in the month. Major aircraft commitments are often revealed at expos as airlines and manufacturers seek to showcase their orders.
Griks In Despair