Turkish Airlines has decided to lease two B737-700 aircraft for six years from Celestial Aviation Trading 66 Ltd. The aircraft offers a range of 5,510 nautical miles (10,205 kilometres), with seating for 126 passengers in a traditional two-class configuration. Our view: The aircraft will be leased operationally to meet the increase in demand until the company's aircraft orders are delivered. Turkish Airlines is conducting a large-scale fleet expansion program in the period 2009-2023, buying up to 105 planes. As an initial step, the company previously announced a decision to buy 10 A330 aircraft (seven firm, three optional) from Airbus and 12 B777-300ER aircraft from Boeing. We expect a neutral market reaction.