Turkish Airlines honored with 2 awards

By Gokhan Ergocun

ISTANBUL (AA) - Turkish Airlines was honored with two prizes for airplane financing operations, the carrier announced on Thursday.

Turkey's flag carrier won the “Lease Deal of the Year Award” from Airline Economics and “Aircraft Tax Lease of the Year” by Global Transport Finance, it said in a statement.

The prizes were given for the innovative, complex and unique financing -- €110 million ($124.8 million) -- of its brand new B777-Freighter aircraft, it added.

The statement said the flag carrier's financing was arranged by French lender Credit Agricole CIB with a competitive loan provided by Chinese firm ICBC Financial Leasing Co.

"Turkish Airlines tapped the Chinese market in 2016, achieving steady growth in this market with a financing amount of up to $1.3 billion as of today.

"Turkish Airlines has mandated another 14 aircraft to be delivered in 2019 with a value of $750 million to Chinese banks and lessors."

Murat Seker, the chief financial officer of the carrier, said: "While continuing our work to further improve this performance, which has been awarded many times, we are proud to be accelerating the rising global reputation and brand value of Turkish Airlines at this point as well."

Since 2008, the airline has been recognized several times for its financing models.

Turkish Airlines, founded in 1933, flies to 306 destinations in 124 countries with its fleet of more than 330 aircraft, including passenger and cargo planes.