Türkiye's national flag carrier Turkish Airlines (THY) laid the foundations on Thursday for eight new facilities with a total investment value exceeding TL 100 billion ($2.32 billion) at several locations, primarily its home base Istanbul Airport.
The projects include investments in Europe's largest wide-body aircraft engine maintenance facility, the world's largest aircraft catering facility, the second phase of SmartIST, which will be the world's largest cargo terminal, additional aircraft maintenance hangars, and an e-commerce complex.
The engine maintenance center will be established in collaboration with Rolls-Royce, Transport and Infrastructure Minister Abdulkadir Uraloğlu said during the groundbreaking ceremony.
"We expect our facility to reach an annual engine maintenance capacity of 200, generating $1.5 billion in annual revenue for Turkish Airlines," Uraloğlu said.
Thanks to a special concession from Rolls-Royce, the minister said high-tech repairs will be able to be carried out in Türkiye, emphasizing that these repairs would generate over $2.5 billion in additional revenue within 22 years.
The investments, which will start with 26,000 new jobs in 2026, will provide over 36,000 jobs when all phases are completed, Turkish Airlines Chair Ahmet Bolat said.
"While our company's contribution to our country's economy is currently $65 billion, this figure will reach $144 billion when we reach our targeted peak in 2033," Bolat said.
Uraloğlu said the investments are "tangible symbols of Türkiye's determined rise in global aviation leadership, the momentum it adds to our economy, and our vision for the future."
"Our country has one of the most advantageous geographical locations in the world, strategically situated in the middle of the Afro-Eurasian geography, that is, between the continents of Asia, Europe, and Africa, known as the old world landmasses," he said.
Uraloğlu said SmartIST, the hub of Turkish Cargo, is the largest air cargo terminal in Europe and the third largest in the world under one roof.
"The facility's usable area will increase from 205,000 square meters to 410,000 square meters, and its cargo handling capacity will increase from 2.2 million tons to 4.5 million tons, propelling Turkish Cargo to global leadership," he said.
The planned catering facility will have a capacity to serve 500,000 people daily, he added.
