ISTANBUL Nov 30 Turkish Airlines,
which has seen profits hit by a weak lira and tough market,
plans to lease out eight of its Airbus A330-200 aircraft,
aviation company Air Partner said in a statement, a move that
will help it to reduce costs.
The partly state-owned Turkish carrier has been hit by the
steady decline of the lira, falling tourism, and stiff
competition this year. Its third-quarter net profit almost
halved to 584 million lira ($170 million).
Aircraft remarketing agent Cabot Aviation, a division of Air
Partner Plc, said the Airbus aircraft would be
made available on a wet lease basis, which includes crew,
maintenance and insurance, or over a longer period on dry lease.
"These Turkish Airlines aircraft offer an operator the
ability to quickly supplement capacity or test markets," Cabot's
senior vice president Greg Cope said in a statement.
Turkish Airlines could not immediately be reached for
comment. Though its passenger numbers increased in the first ten
months of 2016, partly due to transit traffic, its load factor -
a measure of capacity utilization - fell.
Turkish tourism has been hammered this year by a spate of
bombings by Islamic State and Kurdish militants, and by a failed
coup in July. Tourist arrivals plunged 31 percent in the first
ten months of 2016 from the same period a year earlier.
The head of Turkish budget carrier Pegasus, a
Turkish Airlines rival on some routes, told Reuters last week
that it may postpone the delivery of new aircraft, lease some of
its current fleet and sell older planes after a difficult year
($1 = 3.4260 liras)
(Writing by Tuvan Gumrukcu; Editing by Nick Tattersall and