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Turkish Airlines is set to sign a deal with Rolls-Royce (OTCPK:RYCEF) (OTCPK:RYCEY) and Airbus (OTCPK:EADSF) (OTCPK:EADSY) for domestic production of aircraft components worth $20 billion, Bloomberg he reported Wednesday.
The Turkish national airline confirmed the purchase of 230 Airbus planes (OTCPK:EADSF) (OTCPK:EASY) in December, with options for more as it looks to expand its Istanbul hub; As part of the order, Turkey pushed for local production of aircraft parts.
The deal for the domestic production of airplane parts is a key component in Turkey’s aim to develop its civil and military aviation industry and is part of the Airbus (OTCPK:EADSF) (OTCPK:EADSY) 2023 order worth approximately 70 billion dollars.