Turkish Airlines lays foundations for $2.3bn worth of new investments

Turkish Airlines said it held groundbreaking ceremonies on Thursday for eight new facilities with a total investment value exceeding 100 billion lira ($2.32 billion) at several locations, primarily its home base Istanbul Airport.

The projects included investments in Europe’s largest wide-body aircraft engine maintenance facility, the world’s largest aircraft catering facility, the second phase of SmartIST which will be the world’s largest cargo terminal, additional aircraft maintenance hangars, and an e-commerce complex, it said.

“These investments, which will start with 26,000 new jobs in 2026, will provide over 36,000 jobs when all phases are completed… While our company’s contribution to our country’s economy is currently $65 billion, this figure will reach $144 billion when we reach our targeted peak in 2033,” Turkish Airlines Chairman Ahmet Bolat said in the statement.