Funds News

UPDATE 1-Turkish Airlines extends plane purchase tender

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ISTANBUL, Dec 18 (Reuters) - Turkish Airlines THYAO.IS has extended the deadline of a tender for 105 planes to Jan. 19 at the request of Boeing and Airbus, the airline said on Thursday.

Turkish Airlines (THY) announced the planned plane order on Oct. 14 and the tender was scheduled for completion on Dec. 17.

The order, worth over $6 billion at list price, reflects a bid by one of Europe’s fastest growing carriers to strengthen its position in the region.

“The plane purchase tender has been extended until Jan. 19, 2009 at the request of the manufacturing companies,” the THY statement said.

THY, partly owned by the Turkish state, invited Boeing Co BA.N and Airbus, a unit of EADS EAD.PA, to bid.

It had said it would place a firm order for 25 wide-body, long-haul planes and 50 narrow-body, medium-haul aircraft. It would also place options for 10 wide-body and 20 narrow-body aircraft.

The fleet expansion comes as the industry battles to cope with the global financial crisis and economic slowdown.

Shares in Turkish Airlines were 1.94 percent higher at 5.25 lira after the announcement, outperforming the main share index .XU100 which was 1.2 percent lower. (Writing by Daren Butler; Editing by David Cowell)