Turkish Airlines (THY) plans to again double in size over the next five years as part of an ambitious new five-year business plan.

The carrier’s chef executive, Temel Kotil, says its new five-year plan envisions THY carrying 40 million passengers and generating $10 billion revenues in 2012 with a fleet of about 200 aircraft.

In its last five-year plan, which ran from 2003 through 2007, the carrier’s traffic doubled to 20 million passengers and revenues jumped from $1.8 billion to $3.7 billion.

Kotil says in the new five-year plan, which the carrier has been working on since late last year, THY will continue to grow at 15% to 20% per annum.

The carrier now operates 102 aircraft and is currently committed to taking another 20, including 18 aircraft this year and two more aircraft early next year. This means the carrier will need about 80 additional aircraft to meet its new five-year business plan.

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