Turkish Airlines is assessing a potential order for Boeing 777X jets, as it eyes ultra-long-haul routes, the carrier's chairman said.
Turk Hava Yollari AO, as the carrier is known, is studying the feasibility of the latest generation widebody jet's performance and fit into its fleet plans, Ilker Ayci, Turkish Airlines' chairman, said on the sidelines of an airlines meeting in Sydney last week.
"We’re still making our calculations and working very closely with the OEMs [original equipment manufacturers] on the feasibility of the new generation aircraft for the ultra-overseas," Mr Ayci said. "After we’ve seen the clear feasibility of that aircraft’s performance, we’ll make our decision."
On Friday, the carrier's shares closed 11 per cent lower, the biggest fall since nearly two years as it reported May passenger figures that reflected a slowdown in demand. Last month, the airline carried 6.1 million passengers, a rise of 3.6 per cent, but the increase was less than a quarter of April's 15 per cent boost.
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Following the feasibility study, the airline may look into a "trial" order to try out the aircraft within its fleet before potentially making the "main" order, Mr Ayci said.
The airline will make a decision on the purchase after it finishes the feasibility study, finalises any remaining questions and is completely satisfied by the data, Mr Ayci said, declining to provide a timeline for the conclusion of the assessment.
Turkish Airlines would use the aircraft to boost ultra-long-haul destinations, the chairman said, without specifying potential routes.
"Turkish Airlines right now is very equally balanced in terms of destination allocation," he said. "We are thinking of increasing frequencies – its more important right now than opening new destinations."
The Star Alliance carrier has already signed deals for 25 Airbus A350 and 25 Boeing 787-9 widebody aircraft in March, including options for five jets of each type, with deliveries to begin next year.
Rising oil prices will be the biggest pressure on the carrier's costs this year, and it is "very carefully" following the changes in jet fuel prices.
"We have our own policies to manage that risk, but that’s a pressure on cost for everyone – for every carrier that’s a risk, a challenge," he said.
IATA predicted global airlines' profits will drop 12 per cent this year on rising fuel costs and labour costs.
How much sugar is in chocolate Easter eggs?
- The 169g Crunchie egg has 15.9g of sugar per 25g serving, working out at around 107g of sugar per egg
- The 190g Maltesers Teasers egg contains 58g of sugar per 100g for the egg and 19.6g of sugar in each of the two Teasers bars that come with it
- The 188g Smarties egg has 113g of sugar per egg and 22.8g in the tube of Smarties it contains
- The Milky Bar white chocolate Egg Hunt Pack contains eight eggs at 7.7g of sugar per egg
- The Cadbury Creme Egg contains 26g of sugar per 40g egg
Ten tax points to be aware of in 2026
1. Domestic VAT refund amendments: request your refund within five years
If a business does not apply for the refund on time, they lose their credit.
2. E-invoicing in the UAE
Businesses should continue preparing for the implementation of e-invoicing in the UAE, with 2026 a preparation and transition period ahead of phased mandatory adoption.
3. More tax audits
Tax authorities are increasingly using data already available across multiple filings to identify audit risks.
4. More beneficial VAT and excise tax penalty regime
Tax disputes are expected to become more frequent and more structured, with clearer administrative objection and appeal processes. The UAE has adopted a new penalty regime for VAT and excise disputes, which now mirrors the penalty regime for corporate tax.
5. Greater emphasis on statutory audit
There is a greater need for the accuracy of financial statements. The International Financial Reporting Standards standards need to be strictly adhered to and, as a result, the quality of the audits will need to increase.
6. Further transfer pricing enforcement
Transfer pricing enforcement, which refers to the practice of establishing prices for internal transactions between related entities, is expected to broaden in scope. The UAE will shortly open the possibility to negotiate advance pricing agreements, or essentially rulings for transfer pricing purposes.
7. Limited time periods for audits
Recent amendments also introduce a default five-year limitation period for tax audits and assessments, subject to specific statutory exceptions. While the standard audit and assessment period is five years, this may be extended to up to 15 years in cases involving fraud or tax evasion.
8. Pillar 2 implementation
Many multinational groups will begin to feel the practical effect of the Domestic Minimum Top-Up Tax (DMTT), the UAE's implementation of the OECD’s global minimum tax under Pillar 2. While the rules apply for financial years starting on or after January 1, 2025, it is 2026 that marks the transition to an operational phase.
9. Reduced compliance obligations for imported goods and services
Businesses that apply the reverse-charge mechanism for VAT purposes in the UAE may benefit from reduced compliance obligations.
10. Substance and CbC reporting focus
Tax authorities are expected to continue strengthening the enforcement of economic substance and Country-by-Country (CbC) reporting frameworks. In the UAE, these regimes are increasingly being used as risk-assessment tools, providing tax authorities with a comprehensive view of multinational groups’ global footprints and enabling them to assess whether profits are aligned with real economic activity.
Contributed by Thomas Vanhee and Hend Rashwan, Aurifer
The National Archives, Abu Dhabi
Founded over 50 years ago, the National Archives collects valuable historical material relating to the UAE, and is the oldest and richest archive relating to the Arabian Gulf.
Much of the material can be viewed on line at the Arabian Gulf Digital Archive - https://www.agda.ae/en
