Istanbul Jet claims 118th place on top 500 firms list

ISTANBUL

Hüseyin Latifoğlu, the CEO of Istanbul Jet.

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, the company provides services to airline companies with the standards it offers in aviation and fuel services.

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

"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," he said, adding that the company is at 23rd place in energy-oil sector.

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

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

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