Turkish Airlines is ordering 230 Airbus planes as part of a multibillion-dollar deal that will send economic ripples through Europe.
The deal, one of Airbus’s biggest order announcements, will be made up mostly of A321 planes and A350 wide-body aircraft.
It follows a handshake accord in Istanbul, and adds weight to President Recep Tayyip Erdogan’s ambition that Turkey becomes a global power.
For manufacturers in the Airbus supply chain the multibillion-dollar deal represents thousands of jobs.
President Erdogan has championed a strong national carrier to help put Turkey and its $900 billion economy on the international map.
The airline says it flies to the most countries in the world, using its hub in Istanbul as a major transfer airport.
Turkish has said publicly for months that it wants to place a big order as it aims to almost double its fleet in the next decade.
“We are reinforcing our leading position in global aviation and contributing to the nation’s prominence as an aviation hub,” Turkish Airlines chairman Ahmet Bolat said.
The airline is initially buying 150 A321 planes, 70 A350 wide-body aircraft and a number of freighters, Airbus said. There are also rights to extend the deal to 355 aircraft.
“I wish good luck to our country and our company,” Turkish Airlines chief executive Bilal Eksi said.
In Britain, Prime Minister Rishi Sunak and Business and Trade Secretary Kemi Badenoch welcomed the deal, which will be worth billions of pounds to the UK alone, with the engines being made by Rolls-Royce.
“This landmark deal between Turkish Airlines, Airbus and Rolls-Royce demonstrates that the sky’s the limit for the UK’s thriving aerospace sector,” Mr Sunak said.
“Meeting the growing demand in aviation will create better-paid jobs and new opportunities in manufacturing hubs from Derby to Wales, so we can continue growing the economy.”
The agreement will support thousands of high-skilled jobs across the UK and help to boost exports, Downing Street said.
All the wings will be designed in Bristol, and assembled in North Wales, supporting hundreds of manufacturing jobs in the UK aerospace supply chain.
The Rolls-Royce Trent XWB engines will deliver 25 per cent lower CO2 emissions compared to previous generation aircraft.
For Airbus, it was their second major scoop of the week after an order for 100 A321neo models from aircraft leasing firm Avolon was made on Tuesday.
UAE currency: the story behind the money in your pockets
Benefits of first-time home buyers' scheme
- Priority access to new homes from participating developers
- Discounts on sales price of off-plan units
- Flexible payment plans from developers
- Mortgages with better interest rates, faster approval times and reduced fees
- DLD registration fee can be paid through banks or credit cards at zero interest rates
COMPANY PROFILE
Name: Qyubic
Started: October 2023
Founder: Namrata Raina
Based: Dubai
Sector: E-commerce
Current number of staff: 10
Investment stage: Pre-seed
Initial investment: Undisclosed
8 UAE companies helping families reduce their carbon footprint
Greenheart Organic Farms
This Dubai company was one of the country’s first organic farms, set up in 2012, and it now delivers a wide array of fruits and vegetables grown regionally or in the UAE, as well as other grocery items, to both Dubai and Abu Dhabi doorsteps.
www.greenheartuae.com
Modibodi
Founded in Australia, Modibodi is now in the UAE with waste-free, reusable underwear that eliminates the litter created by a woman’s monthly cycle, which adds up to approximately 136kgs of sanitary waste over a lifetime.
www.modibodi.ae
The Good Karma Co
From brushes made of plant fibres to eco-friendly storage solutions, this company has planet-friendly alternatives to almost everything we need, including tin foil and toothbrushes.
www.instagram.com/thegoodkarmaco
Re:told
One Dubai boutique, Re:told, is taking second-hand garments and selling them on at a fraction of the price, helping to cut back on the hundreds of thousands of tonnes of clothes thrown into landfills each year.
www.shopretold.com
Lush
Lush provides products such as shampoo and conditioner as package-free bars with reusable tins to store.
www.mena.lush.com
Bubble Bro
Offering filtered, still and sparkling water on tap, Bubble Bro is attempting to ensure we don’t produce plastic or glass waste. Founded in 2017 by Adel Abu-Aysha, the company is on track to exceeding its target of saving one million bottles by the end of the year.
www.bubble-bro.com
Coethical
This company offers refillable, eco-friendly home cleaning and hygiene products that are all biodegradable, free of chemicals and certifiably not tested on animals.
www.instagram.com/coethical
Eggs & Soldiers
This bricks-and-mortar shop and e-store, founded by a Dubai mum-of-four, is the place to go for all manner of family products – from reusable cloth diapers to organic skincare and sustainable toys.
www.eggsnsoldiers.com
AIDA%20RETURNS
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THE%20JERSEYS
%3Cp%3E%3Cstrong%3ERed%20Jersey%3C%2Fstrong%3E%0D%3Cbr%3EGeneral%20Classification%2C%20sponsored%20by%20Fatima%20bint%20Mubarak%20Ladies%20Academy%3A%20Worn%20daily%2C%20starting%20from%20Stage%202%2C%20by%20the%20leader%20of%20the%20General%20Classification.%0D%3Cbr%3E%3Cstrong%3EGreen%20Jersey%3C%2Fstrong%3E%0D%3Cbr%3EPoints%20Classification%2C%20sponsored%20by%20Bike%20Abu%20Dhabi%3A%20Worn%20daily%2C%20starting%20from%20Stage%202%2C%20by%20the%20fastest%20sprinter.%0D%3Cbr%3E%3Cstrong%3EWhite%20Jersey%3C%2Fstrong%3E%0D%3Cbr%3EYoung%20Rider%20Classification%2C%20sponsored%20by%20Abu%20Dhabi%20360%3A%20Worn%20daily%2C%20starting%20from%20Stage%202%2C%20by%20the%20best%20young%20rider%20(U25).%0D%3Cbr%3E%3Cstrong%3EBlack%20Jersey%3C%2Fstrong%3E%0D%3Cbr%3EIntermediate%20Sprint%20Classification%2C%20sponsored%20by%20Experience%20Abu%20Dhabi%3A%20Worn%20daily%2C%20starting%20from%20Stage%202%2C%20by%20the%20rider%20who%20has%20gained%20most%20Intermediate%20sprint%20points.%3C%2Fp%3E%0A
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Founders: Michele Ferrario, Nino Ulsamer and Freddy Lim
Started: established in 2016 and launched in July 2017
Based: Singapore, with offices in the UAE, Malaysia, Hong Kong, Thailand
Sector: FinTech, wealth management
Initial investment: $500,000 in seed round 1 in 2016; $2.2m in seed round 2 in 2017; $5m in series A round in 2018; $12m in series B round in 2019; $16m in series C round in 2020 and $25m in series D round in 2021
Current staff: more than 160 employees
Stage: series D
Investors: EightRoads Ventures, Square Peg Capital, Sequoia Capital India
MOUNTAINHEAD REVIEW
Starring: Ramy Youssef, Steve Carell, Jason Schwartzman
Director: Jesse Armstrong
Rating: 3.5/5
UAE currency: the story behind the money in your pockets
Specs
Engine: Duel electric motors
Power: 659hp
Torque: 1075Nm
On sale: Available for pre-order now
Price: On request
The specs
Engine: 6.2-litre supercharged V8
Power: 712hp at 6,100rpm
Torque: 881Nm at 4,800rpm
Transmission: 8-speed auto
Fuel consumption: 19.6 l/100km
Price: Dh380,000
On sale: now
BIGGEST CYBER SECURITY INCIDENTS IN RECENT TIMES
SolarWinds supply chain attack: Came to light in December 2020 but had taken root for several months, compromising major tech companies, governments and its entities
Microsoft Exchange server exploitation: March 2021; attackers used a vulnerability to steal emails
Kaseya attack: July 2021; ransomware hit perpetrated REvil, resulting in severe downtime for more than 1,000 companies
Log4j breach: December 2021; attackers exploited the Java-written code to inflitrate businesses and governments
