Boeing Finalizes 150 737 MAX Order for Turkish Airlines

Boeing and Turkish Airlines Near Agreement

Boeing Co (NYSE: BA) is reportedly approaching the finalization of a significant Boeing 737 MAX order for 150 aircraft with Turkish Airlines, according to StreetInsider. This transaction resolves a prolonged dispute regarding the maintenance terms for the CFM LEAP-1B engines that power the narrowbody fleet. The deal is a critical component of a broader agreement, originally announced in September 2025, which includes 75 Boeing 787 Dreamliners, bringing the total order package to 225 aircraft.

Resolving the Maintenance Dispute

The impasse centered on the carrier's demand for "premier" maintenance facility status, which would grant Turkish Airlines accelerated access to repair technologies and enhanced in-house maintenance capabilities. Industry sources indicate that the airline sought greater control over engine maintenance to mitigate financial risks associated with rising spare-parts prices and supply chain constraints. This shift reflects a broader industry trend where carriers are negotiating engine maintenance agreements simultaneously with aircraft orders to better manage long-term operational costs.

Financial Valuation and Market Context

Financial analysis from GuruFocus suggests that Boeing’s stock is currently trading at approximately 0.8% below its GF Value, a proprietary metric used to assess intrinsic value. The resolution of this order removes a significant uncertainty for the manufacturer, which had faced the risk of the carrier switching to competing Airbus narrowbody models during the negotiations. For CFM International, the joint venture between GE Aerospace and Safran, the deal secures a long-term aftermarket revenue stream for 150 LEAP-1B engines.

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The Strategic Importance of Maintenance Control

This development underscores the evolving relationship between OEMs and operators. Historically, airlines accepted standard OEM maintenance terms, but recent supply chain volatility has forced a change in strategy. The Turkish Airlines MRO Division (Maintenance, Repair, and Overhaul) successfully leveraged its scale to secure expanded capabilities, a move that contrasts with the 2023 order from SunExpress, which also utilized the 737 MAX and LEAP-1B platform. By securing direct access to repair technologies, the airline is positioning itself to absorb less financial risk while enhancing its internal operational efficiency.

Expected Timeline for Finalization

The formal signing of the 150-aircraft order is expected by late September 2026. This milestone marks the conclusion of a complex negotiation phase that began in 2025. Following this, the focus will shift to delivery schedules as the manufacturer works to clear existing backlogs and meet the fleet expansion requirements of the Turkish carrier.

Why This Matters for the Industry

The resolution of this deal signals a shift in power dynamics within the aviation supply chain. As carriers prioritize fleet reliability, the ability to internalize maintenance functions has become a competitive advantage. For Boeing, maintaining this partnership is essential to its market share in the narrowbody sector, particularly as it seeks to stabilize its delivery cadence and financial outlook in the coming quarters.