Turkey Signs Airbus Agreement for 36 New Planes

THY CEO Candan Karlitekin and Airbus CEO Noel Forgeard signed the protocol at a ceremony after the three-party summit by Erdogan, Schröeder and Chirac.

Within the framework of the agreement with French-German joint venture company Airbus, whose engines are produced by British firm Rolls Royce, THY will be receive twelve A-321, nineteen A-320 and five A-330 Airbus commuter planes. With the purchase of 36 planes costing $1.5 billion, 75 percent of the tender is given to French-German joint venture. The agreement with Airbus followed an agreement with Boeing for 15 planes costing $982.5 million. The credit for Airbus will be obtained from European Eximbank through financial and operational leasing. The delivery of the new Airbuses to Turkey will start in late 2005 and continue in 2006 and 2007.