Turkish Airlines posts significant operating net profit rise

posted on 9th August 2018 by Justin Burns
Turkish Airlines posts significant operating net profit rise

Turkish Airlines total revenue increased significantly during the first half of the year approximately by 30 per cent compared to the same period of last year reaching $6 billion.

During the first six months of 2018, the carrier increased net operating profit from $17 million in the same half last year to $258 million which was driven by increasing demand and unit revenues and growth came despite higher fuel prices.

In the first half of the year, EBITDAR (earnings before interest, taxes, depreciation, amortization and rent), was $1.28 billion, a 38 per cent YOY increase.

The load factor climbed 4.3 percentage points to 80.4 per cent, the highest in the carrier’s history for the period. Turkish Airlines carried more than 35 million passengers in the period, an 18 per cent YOY rise, while capacity was up eight per cent and demand up 16 per cent.

The airline now runs flights to 49 domestic and 255 international destinations, a total of 304 destinations in 122 countries, and this year it started new routes to Freetown, Samarkand, Krasnodar and Moroni.

Fleet-wise it now operates 325 aircraft, 215 narrowbodies, 92 widebodies and 18 freighter aircraft, as of today and it aiming to reach a fleet of 500 aircraft by 2023.