Turkish Airlines has clinched a five-year loan from Bank of China (BOC) amounting to CNY 2.9 bn (c. USD 412 mn), according to a press release. The facility — arranged by BOC’s Turkey unit and Macau unit as the lender — will fund the carrier’s fleet expansion, business growth, and the development of infrastructure at Istanbul Airport, the press release said.

Aircraft funding streak: The Turkish flag-carrier signed a 12-year Islamic finance lease agreement with Dubai Islamic Bank to back its purchase of a new Airbus A350-941 earlier this year.

Beefing up the orderbook: Turkish Airlines is set to uptake 14 narrowbody jets from US-based lessor Carlyle and Irish lessor Avolon — including Boeing Max and Airbus Neo carriers — to be delivered in 2028. The firm placed an order for 75 Dreamliners from Boeing in September, with talks still ongoing for 150 737 Max jets pending a final price agreement.

This followed an agreement between Turkish Airlines and Riyadh-based aircraft leasing firm AviLease for a long-term lease of eight Airbus A320neo jets in April.

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