Turkish Airlines Leases 10 New Airbus A321neo Aircraft From AerCap

Turkish Airlines and AerCap, an aircraft leasing company, have announced that the airline will lease ten Airbus A321neo aircraft from the aircraft lessor without disclosing the delivery dates or the engines that would power the decimal A321neos. The Turkish airline already operates A321neo aircraft.

Efficient operations

However, executives from both companies were happy to comment on the deal, with Aerngus Kelly, the chief executive officer (CEO) of AerCap, commenting that the aircraft lessor was pleased to support Turkish Airlines with the lease of ten A321neo aircraft. Kelly added that the lease agreement will help Turkish Airlines grow its extensive route network while also modernizing its narrowbody fleet with the latest-generation aircraft, resulting in greater operational efficiency. The lessor’s CEO concluded that the company was looking forward to building a long-term partnership with the Turkish carrier.

Meanwhile, Ahmet Bolat, the chairman of the board and executive committee of Turkish Airlines, added that the airline was happy to add ten A321neo aircraft to its fleet through the partnership with AerCap. According to Bolat, the addition of the ten narrowbodies has aligned with the carrier’s strategy to continue offering a modern and efficient travel experience to its passengers while supporting the growth of its route network, including the addition of new destinations and additional frequencies on its current itineraries.

The two sides had already agreed to an aircraft lease agreement in October 2023. Then, Turkish Airlines agreed to lease 28 aircraft, namely 25 Boeing 737 MAX 8 and three Boeing 787-9 aircraft, while also extending the leases of six used Airbus A330-300 aircraft. The Boeing aircraft were scheduled to be delivered between 2024 and 2026.

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AerCap’s backlog

Ch-aviation data indicated that AerCap and its special purpose vehicles (SPV) that have been established to own and manage assets, including aircraft, manage 1,869 aircraft, which includes 134 A321neos, excluding the A321LR and A321XLR, two derivatives of the A321neo.

Meanwhile, AerCap has 50 Airbus A321neo in the backlog. Out of the 60, at least ten have been assigned to Thai Airways International (THAI), while one should be delivered to Air Macau. 39 A321neo aircraft in the aircraft lessor’s backlog have remained unassigned, meaning that the aircraft has no operator yet.

Photo: Skycolors | Shutterstock

THAI’s ten A321neos should come equipped with the CFM International LEAP-1A engine, which AerCap should deliver between Q3 2025 and Q2 2026. In May, the aircraft lessor purchased 150 CFM International LEAP engines for its Airbus A320neo and Boeing 737 MAX family aircraft, with the latter being exclusively powered by the CFM International LEAP-1B.

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Turkish Airlines ambitions

Despite ordering as many as 220 Airbus aircraft, including 150 A3210neo, 50 A350-900, 15 A350-1000, and five A350Fs in December 2023, the Turkey-based carrier has continued to order aircraft from both manufacturers. Its most recent order came in July when it announced an order for four Boeing 777F freighters.

Photo: Vincenzo Pace | Simple Flying

Nevertheless, by 2033, Turkish Airlines has planned to operate more than 800 aircraft with revenues of more than $50 billion by 2033. The airline, which had carried 83.4 million travelers in 2023, plans to increase that number to more than 170 million travelers in ten years’ time.

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