WNAM REPORT: Turkish Airlines has become the first carrier outside China to provide aircraft financing in Chinese Yuan. This is an important stage in the company’s strategy to diversify its foreign exchange portfolio and strengthen its position in the Chinese market.
Three new Airbus A350 aircraft joining the Turkish Airlines fleet from May to July 2024 were financed in yuan by AVIC International Leasing and CCB Financial Leasing. This agreement not only strengthens the airline’s financial position, but also demonstrates the growing cooperation between Turkey and China in the aviation sector.
Professor Ahmet Bolat, Chairman of the Board and Executive Committee of Turkish Airlines, emphasized the significance of this achievement: “By adding a fifth currency to our financial portfolio, we not only support currency hedging strategies, but also minimize the cost of financing. This demonstrates mutual trust between our countries and opens new horizons for cooperation”.
Turkish Airlines is known for its innovative approaches to financing and has already received more than 30 international awards for successful financing projects amounting to approximately 16 billion USD over the past decade. The company continues to strengthen its position in the Chinese market by increasing flight frequencies and developing partnerships in the region.
