TSI AVIATION SEATS
TSI Seats was established in 2011 by Turkish Airlines and Turkish Technic in order to design, manufacture, modify and merchandise aircraft seats and its spare parts. In 2012, TSI Seats has become a partnership between Turkish Airlines, Turkish Technic and Assan Hanil (a joint-venture between Turkish industrial conglomerate, Kibar Holding, and Hanil Seoyon E-Hwa, a South Korean global auto parts supplier). TSI Seats continues its operations for multiple aircraft types in the production facilities based in Istanbul, Turkey, and in Utah, United States, with full design, engineering, manufacturing and R&D capabilities. Annual revenues are projected to hit $50 million in 2019 and the firm has a goal of seeing this number double by 2023. Employee count across its two locations stands at 135. TSI has a close relationship with Turkish Airlines with orders for seats on almost 400 aircraft. The company had agreements with Freebird Airlines, Azerbaijan Airlines, Nordavia Airlines and Nordwind Airlines, and also struck deals with other leading Airlines. As such, it is perfectly poised to become a major seating vendor. Indeed, TSI has ambitions to rank among the world’s top-five aircraft seat manufacturers by 2023. Accordingly, production capacity will ramp up rapidly to 100,000 pax per annum over the next few years. TSI promises customised solutions in a timely manner. Pre-certified seats can be delivered in less than three months, while the company has recently completed projects that started at the design stage with Airbus and Boeing in less than 16 months – much lower than the industry average. With a cluster of car-makers and parts suppliers, the Turkish automotive sector – in which TSI’s ownership Assan Hanil is heavily involved – exports billions of dollars’ worth of motor vehicles and components each year. 80% of TSI’s suppliers are local and proximity to this supply chain, most of which is situated within two hours of its Istanbul headquarters, is fundamental to the firm’s ability to deliver seats on-time or even ahead of schedule.