Pegasus Airlines (PC, Istanbul Sabiha Gökcen) has announced it will sell seven B737-800s to US-based lessor Air Lease Corporation as it accelerates its transition to an all-Airbus fleet.

In a filing to the Borsa Istanbul, the Turkish carrier valued the sale at TRY644.4 million lira (USD178.7 million). Proceeds will go towards the purchase of A320/A321neo aircraft as well as other pending needs.

"Our company is acting in line with the aim of bringing the planned Airbus deliveries to the fore, financing the purchase through leasing with these funds to be used to partially offset the outstanding balance of the sale price," a disclosure said. "It is expected that all of the aircraft sales transactions will be completed by October 31, 2017."

According to Airbus's books, Pegasus Airlines has taken delivery of nine out of fifty-seven A320neo on order thus far. It also has eighteen A321neo on order as well.

Its fleet currently consists of fity-eight B737-800s and twelve A320-200s.