Turkish Airlines to convert option for five B777-300ER

The aircraft are slated for the delivery in 2016 and 2017, the state-run airline said in a filing with the Istanbul stock exchange. 

Analyst Saj Ahmad said: “Given the pace at which Turkish Airlines is expanding, the decision to exercise options on more 777-300ERs points added passenger growth that the carrier expects to harness in the latter half of the decade. 

“Even with the prospect of the soon-to-be-launched 777-8X and 777-9X, Turkish Airlines' delivery of these new 777s in 2016 and 2017 points to investor confidence that the market demand and value for the 777-300ER will still remain robust.  This move also casts doubts on whether the Turkish carrier even needs the likes of the A380 or 747-8, which are less fuel and cost efficient than the 777-300ER over similar routes.” 

He added: “Just as Emirates uses the 777-300ER to good effect, it's clear that Turkish Airlines also sees the same intrinsic value of the type to bolster its international passenger and growth needs and you can be sure that they'll be a big, if not early adopter of the forthcoming 777X family.”