Bank of China (BOC) Turkey has provided a 5-year loan of 2.9 billion Chinese Yuan (approximately 412 million USD) to support Turkish Airlines’ fleet expansion, cargo operations, and simulator training center projects.
In a statement on Tuesday, Bank of China (BOC) Turkey announced that it had completed a significant financing agreement to support the development and growth projects of Turkish Airlines (THY).
The loan was arranged in coordination with Bank of China Turkey A.Ş. and in collaboration with the Bank of China Macau Branch.
According to BOC Turkey, the financing will be used for fleet expansion, the growth of cargo transportation, and the construction of a new simulator training center.
A Strategic Step in China–Turkey Financial Cooperation
Under the agreement, a regionally effective financing solution addressing THY’s funding needs was developed through the coordinated efforts of BOC Turkey and its Macau branch.
On the same day, foreign exchange transactions related to the support from Bank of China headquarters were successfully completed.
BOC Turkey emphasized that the loan in RMB (Chinese Yuan) represents a strategic step in strengthening China–Turkey financial cooperation.
Furthermore, Turkish Airlines’ choice of RMB financing reflects both its increasing strategic focus on the Chinese market and its support for the internationalisation of the Chinese Yuan.
Turkish Airlines: A Symbol of Global Growth
Founded in 1933, Turkish Airlines is Turkey’s national flag carrier and operates a strong flight network worldwide.
With 49.12% of its shares held by the Turkey Wealth Fund, THY currently operates a fleet of 512 aircraft, including 26 cargo planes, serving 353 destinations in 131 countries.
This new financing agreement will contribute to the company’s sustainable growth strategy and the enhancement of its global operational capacity.
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