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EasyLease H1 profit $12.2m

Revenue rises on stronger operations.

FAB profit edges higher

Income growth supports steady earnings.

UAB H1 profit climbs

Income, lending drive first-half growth

Sanad posts record revenue

Growth driven by global demand for services.

Bank of Sharjah profit up 39%

Bank's total assets grow 10% to $14.4 billion.

Turkey to export 48 fighter jets to Indonesia, deal valued at 10 billion dollars

Türkiye's first-ever unmanned fighter jet, developed entirely with Baykar's own resources, successfully completes the aerodynamic system identification test after taking off from AKINCI Flight Training and Test Center in Tekirdag, Turkiye on March 07, 2025. AFP
By TRENDS Desk AFP
June 11, 2025 11:41 pm
  • Turkey's defence sector, including the famous Bayraktar drones, accounts for a significant share of the country's export revenues
  • The contract, valued at 10 billion dollars, includes the production and delivery of the Kaan fighter jets to Indonesia over a ten-year period

Ankara, Turkey – Ankara has agreed a deal to export 48 Turkish-made fighter jets to Indonesia, President Recep Tayyip Erdogan announced on Wednesday.

Turkey’s defence sector, including the famous Bayraktar drones, accounts for a significant share of the country’s export revenues.”As part of the agreement signed with our friendly and brotherly country, Indonesia, 48 Kaan (fighter jets) will be produced in Turkey and exported to Indonesia,” Erdogan wrote on X.The contract, valued at 10 billion dollars, includes the production and delivery of the Kaan fighter jets to Indonesia over a ten-year period, according to Turkish media.

The deal also includes a technology transfer to Indonesia, Turkish broadcaster TRT Haber reported.

“Indonesia’s local capabilities will also be utilised in the production of Kaan” jets, the Turkish head of state said on X, without providing further details.

The fifth-generation fighter jet Kaan, produced by state-run Turkish Aerospace Industries (TAI), made its first flight in February 2024.

It was then equipped with the same type of engines as those of the F-16 fighter jets but Turkey ultimately plans to equip Kaan jets with a locally produced engine.

In 2024, Turkey’s defence industry export revenues reached $7.1 billion, an increase of $1.6 billion compared with 2023.

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INSEAD Day 4- 300x600
INSEAD Day 4- 300x600
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