Profit and traffic growth for Turkish Airlines

No post image

Turkish Airlines posted record profit from operations of $1.14 billion in the first nine months of 2018 despite increasing fuel prices.

The carrier reported that sales revenue from January-September increased by 20 per cent compared to the same period of 2017 to $9.9 billion.

Net profit for the period was $755 million and EBITDAR (earnings before interest, taxes, depreciation, amortization and rent), increased by 16 per cent to $2.8 billion.

Turkish Airlines carried 58 million passengers in the period, 12 per cent more than the same nine months last year and the load factor across its network was 82 per cent, up 3.2 percentage points on the corresponding months in 2018.

The airline’s chairman of the board and the executive committee, İlker Aycı said in the third quarter a “great emphasis” was put on strengthening and improving the infrastructure conditions the carrier has.

He added: “Despite the various regional and sectoral conditions that we have encountered especially in last few years, the persevering attitude we displayed has been the source of our steady rise.

“Today, with our significant investments, impressive growth figures and numerous successes we achieved, we continue to strengthen our prestigious position in the global aviation industry.

“As being one of the primary prides of our country, we are sure that this momentum will continue increasingly after moving to our new home, Istanbul Airport, as well.”

Turkish Airlines operates to 304 destinations in 122 countries, and has added routes this year to Freetown, Samarkand, Krasnodar and Moroni. Its fleet comprises of 329 aircraft, including 217 narrowbody aircraft, 92 widebody aircraft and 20 freighters, and it is aiming to reach 475 aircraft by 2023.

Late last month, Turkish Airlines started moving into its new home at Istanbul Airport and is set to move all operations from Istanbul Ataturk Airport by the start of 2019.