The Board of Directors of Turkish Airlines has decided to spin off a division specializing in air cargo transportation into an independent legal unit. This step was taken to capitalize on the increased demand.
The new subsidiary, 100% owned by Turkish Airlines, will continue to operate under the Turkish Cargo brand.
The company aims at fast and ambitious development: by 2023, Turkish Cargo plans to become one of the five largest air cargo carriers in the world. The independent status of the unit will further allow Turkish Airlines to consider the possibilities of strategic participation in the company of foreign partners.
Already, Turkish Cargo operates flights to 300 destinations in 127 countries, including the transportation of goods in the baggage compartments of the parent company’s passenger airliners. The total carrying capacity makes it possible to transport up to 4 million tons annually.
The route network, served by dedicated cargo aircraft, now includes 95 airports and is expected to grow to 120 by 2023.
Turkish Cargo fleet consists of ten Airbus A330-200F, two A310F, one A300, six Boeing 777F and four B-747-400F. Some of these aircraft are operated under a wet lease agreement with Istanbul-based operator ACT Airlines.
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