Turkish Airlines (THY) Chairman İlker Aycı said the airline will serve with the world's youngest and largest fleet consisting of more than 400 planes by 2023.
Within the framework its plans to expand operations at Istanbul's new airport and enlarge its network, the company has ordered 165 narrow body and 60 wide-body planes in addition to three cargo planes to be delivered from next year until 2024.
By the end of August 2018, the airline had 326 aircraft - 92 of them wide-body planes along with 216 narrow-body aircraft and 18 cargo planes.
In March, Turkey's national flag carrier announced it placed firm orders for up to 60 Boeing 787-9 Dreamliners and Airbus A350-900s.
In total, the carrier has placed firm orders for 50 new wide-body aircraft with an additional 10 as optional from both manufacturers, comprising 25 firm and five optional orders of each aircraft.
The first six aircraft are expected to be delivered in 2019, with a further 14 in 2020, 10 in 2021, 12 in 2022, 11 in 2023 and seven in 2024.
Making an address at the Turkish Airlines Corporate Club Conference in Istanbul yesterday, the THY chairman stressed that Istanbul's new airport will serve the airline's future goals, highlighting Istanbul's quality as a natural transportation hub and the city's advantageous geographic location.
"It is possible to fly to 66 countries from Istanbul with a flight of five hours [or less]," Aycı said.
He also emphasized the robust financial management of the company in times of volatile exchange rates.
"The company's revenues have been affected the recent currency volatility, but a large portion of our revenues are already denominated in foreign currency. With sound and robust management, we have ensured a healthy financial outlook," he said.
In the first half of the year, THY's total revenues recorded a 30 percent surge compared to the same period last year and reached $6 billion thanks to significant increases in passenger and cargo revenues.
The company aims to reach $12.5 billion in sales revenues by the end of this year. The airline posted $258 million in net operating profits despite soaring oil prices. In the first half of 2017, the net operating profits of the company were recorded at $17 million.
Having a flight network expanding from Asia to Europe, America and Africa, THY's cargo subsidiary Turkish Cargo also contributed to the airlines' success in the first half of the year. Cargo operations carried 660,000 tons of load with a 28 percent increase compared to the first half of last year. The revenues of Turkish Cargo increased by 35 percent and hit $784 million.
"Turkish cargo is currently one of the world's largest air cargo companies, performing well above the global average. The cargo business has a capacity to handle 2 million tons of goods and will add 2 million tons more within the next five years," Aycı said.
The two-day Turkish Airlines Corporate Club Conference organized in partnership with Global Business Travel Association brought together the industry leaders with 900 participants attending from 71 countries across the international flight network that Turkish Airlines operates.
The conference held under the theme of "Building for the Future" resonated on three levels - for Turkey as a country, Turkish Airlines as a global flag carrier and for the travel industry, a statement released by the company said.
The Turkish Airlines Corporate Club offers many privileges to its customers with a renewed loyalty program, which provides many time-saving benefits for business travelers.
Turkish Airlines, founded in 1933, flies to more than 300 destinations in over 120 countries.