Türkiye's AJet to Dry Lease 14 Airbus A321neo Aircraft

Türkiye's AJet to Dry Lease 14 Airbus A321neo Aircraft

AJet, the low-cost carrier based at Istanbul Sabiha Gökcen Airport, has entered into separate dry lease agreements with Avolon and Carlyle Aviation Partners for a total of 14 Airbus A321neo aircraft. The contracts include ten aircraft from Avolon and four from Carlyle, with deliveries planned for 2026 and 2027. The airline has yet to disclose the engine options selected for these new jets.

Strategic Shift Towards Dry Leasing

This development reflects AJet’s strategic initiative to reduce its dependence on ACMI (Aircraft, Crew, Maintenance, and Insurance) capacity. Throughout 2024, the airline faced technical and maintenance difficulties with wet-leased aircraft, prompting a reassessment of its fleet management approach. By increasing the number of dry-leased aircraft, AJet aims to gain greater operational control and improve reliability, moving away from the challenges associated with wet leasing.

Currently, AJet’s in-house fleet comprises five Airbus A320-200s, one A320-200neo, and fifteen Boeing 737-800s, according to ch-aviation data. Additionally, its parent company, Turkish Airlines, operates 58 aircraft on AJet’s behalf, including a mix of A320s, A321neos, and Boeing 737s. AJet’s long-term objective is to either integrate these aircraft into its own fleet or phase out wet-leasing arrangements with Turkish Airlines. The carrier also wet-leases thirteen jets, primarily A321-200s and Boeing 737-800s, from BBN Airlines Türkiye, SmartLynx Airlines, and SmartLynx Airlines Malta.

Industry Context and Financial Considerations

AJet’s decision to dry lease a substantial number of A321neo aircraft occurs amid a broader industry trend of regional carriers expanding their narrowbody fleets through leasing arrangements. For instance, Gulf Air has recently augmented its fleet with leased Airbus aircraft, while IndiGo is planning additional orders of Airbus A350s to support its European expansion. This competitive landscape may pose challenges for AJet, including fluctuating market demand and intensified competition on key routes as other airlines also enhance their fleets.

The financial ramifications of these leasing agreements are expected to attract investor scrutiny, particularly regarding AJet’s financial health and strategic positioning in a rapidly evolving market. As the airline advances its fleet expansion, its capacity to manage costs effectively and respond to competitive pressures will be closely monitored.

AJet has not provided immediate comment on the new leasing agreements.