This decision follows a detailed assessment of BNA’s business strategy and BAE Systems’ Air Sector longer term aspirations in the Turkish market.

Both parties agree to explore the potential for further opportunities where there are shared interests, within the Turkish aerospace sector.

Alistair Castle, BAE Systems General Manager Turkey, said: “The proposed divestiture of our share in BNA aligns with our strategy to grow our advanced combat air capabilities in the Turkish market.  We have always enjoyed a good working relationship with Nurol and will continue to explore opportunities to work together in the future.”

Gürol Çarmıklı, member of the Board of Nurol Holding A.Ş., said: “We are always open to collaborations with BAE Systems and I believe that our cooperation in the past within good working manner will lead to new common opportunities. This decision has been taken in line with both parties’ business strategies.”

It is anticipated that the proposed sale transaction will close later this month, which will see Nurol taking full ownership of the entity. 

BAE Systems is a key supplier on the TF-X collaboration project with Turkish Aerospace, which remains key to its strategy in developing the Turkish market longer term.