Turkish Airlines postpones $5 billion financing until after 2024 - CFO

Turkish Airlines' recent agreement with Airbus to delay the delivery of new aircraft means the company will postpone raising $5b of financing until after 2024, the airline's CFO said Thursday. Murat Seker also said that the airline, which temporarily halted nearly all of its passenger flights as a result of the coronavirus crisis, was close to a similar delivery deal with Boeing. The agreement with Airbus, which was announced last month, will extend the aircraft delivery timeline out as far as 2028, Seker said. Deliveries per year will be reduced to "reasonable levels" and some may be cancelled if the need arises, he said in a call with investors after Q3 results. Overall, the company has postponed $5 billion of financing needs for aircraft purchases until after 2024, he said. The airline posted a net loss of 946m lira ($112.24m) in Q3, compared to a profit of 3.71b lira a year ago, it said Wednesday. <br/>