ISTANBUL

Turkish fuel services firm Istanbul Jet claimed 118th spot in the Capital500 list of Capital Magazine's 'Türkiye's Top 500 Private Companies' research.

According to a statement from Istanbul Jet on Monday, the company provides services to airline companies with the standards it offers in aviation and fuel services.

Huseyin Latifoglu, the CEO of Istanbul Jet, said the company is aimed at being a global leader in its sector.

Istanbul Jet is at 23rd place in energy-oil sector, he noted, adding: "Starting from Europe, we have a strong presence in the Middle East and Far East and we plan to invest in storage facilities in Central Europe to increase our overseas sales volume."

The company will soon inaugurate a jet fuel storage facility in Dalaman district in southwestern province of Mugla worth over €4 million, he said.

He noted that in 2023 the firm's sales volume soared 40% and its turnover jumped 21% year-on-year, and that the company saw 21% growth in 2024 compared to the first five months of last year.

Stressing that 90% of Istanbul Jet's sales are jet fuel, 8% are land fuel and 2% are marine fuel, the CEO Latifoglu said and added that the company targets a 15% growth in sales volume this year.