Fleet Expansion: Turkish Airlines Seals $400 Million Financing From Bank Of China

Turkish Airlines has officially secured a five-year $408.5 million loan that is being provided by the Bank of China, a multinational financial services corporation. The bank’s Macau branch is currently listed as the official lender of record. The airline says that it will be using these funds to support fleet expansion, growth initiatives, and infrastructure projects at its principal hub at Istanbul Airport (IST). This deal adds much-needed fresh liquidity for the airline as Turkish Airlines seeks to execute its 2033 strategy in order to roughly double the size of its fleet to around 800 aircraft.