Turkish Airlines (THY) is evaluating acquisitions of airlines, cargo operators and maintenance, repair and overhaul (MRO) businesses as it seeks to expand its international footprint, a senior executive said Tuesday.
The national flag carrier agreed on a deal last August to purchase a minority stake in Spanish carrier Air Europa. Its chair, Murat Şeker, described the move as "a key step" and said the carrier's next moves would probably be in Asia and South America.
Şeker told Bloomberg TV on Tuesday that the company now has "a bigger horizon in Asia, the Far East, in Europe and in Latin America."
Turkish Airlines is also a partner with German flag carrier Lufthansa in leisure airline SunExpress.
On market conditions, Şeker said demand had returned to normal after a temporary boost due to the Iran war.
The conflict had prompted widespread Middle Eastern airspace closures, and passenger avoidance of Gulf routes redirected traffic toward Turkish Airlines.
The war also left airlines grappling with higher fuel costs as it choked jet fuel supplies following the effective closure of the key Strait of Hormuz.
As airlines in the region gradually resumed more regular operations, passenger demand normalized, Şeker said.
He also expressed optimism that ongoing negotiations with aircraft engine manufacturer CFM International would be concluded in the near future.
Turkish Airlines has orders in place for nearly 420 aircraft, including Airbus and Boeing jets, with negotiations continuing for an additional 100 Boeing planes.
The company plans to expand its nonstop long-haul network by deploying ultra-long-range aircraft from late 2027, enabling direct flights to destinations in Australia and South America.
Under its 2033 strategy, Turkish Airlines, which already serves more countries than almost any other carrier in the world, plans a major fleet replacement and expansion to around 800 aircraft. Its fleet included 542 planes as of the end of May.
