Turkey’s national flag carrier

Turkish Airlines posts over $1bn profit in 9 months

Aviation
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Turkish Airlines posted profit from main operations of USD over $1bn profit in 9 months of 2018 ($1 billion 149 million to be precise), despite the increasing fuel prices.

Turkish Airlines, managed to increase both passenger and cargo revenue significantly, achieved a total revenue of approximately USD 4 billion in the third quarter of the year.$1bn profit in 9 months

With such remarkable performance, sales revenue in the first nine months increased by 20 percent to USD 9.9 billion, compared to the same period of 2017.

Continuing its uninterrupted profitable growth performance, Turkish Airlines managed to increase its net profit by 3 times in the first 9 months of the year and completed this period with a net profit of USD 755 million.

In the first nine months of 2018, EBITDAR (earnings before interest, taxes, depreciation, amortization and rent), which is used as a cash generation indicator, increased by 16 percent to USD 2.8 billion, with an EBITDAR margin of 28 percent.

Commenting on this brilliant success, Turkish Airlines Chairman of the Board and the Executive Committee, M. İlker Aycı said; “We are delighted and proud to announce our third quarter results of this year, in which we put great emphasis on strengthening and improving the infrastructure conditions we have. We would like to thank all our passengers, employees, business partners and stakeholders who have contributed to this important achievement.”$1bn profit in 9 months

Turkish Airlines, which has strengthened its identity as a leading global airline with its extensive flight network, is operating flights to 49 domestic and 255 international destinations, a total of 304 destinations in 122 countries, along with Freetown, Samarkand, Krasnodar and Moroni routes which were opened this year.

The fleet of Turkish Airlines, one of the youngest and most modern in the world, operates a total of 329 aircraft, comprising 217 narrow body, 92 wide body and 20 cargo aircraft, as of today.

Investing in the most advanced and environmentally friendly new generation aircraft, Turkish Airlines aims to reach a fleet of 475 aircraft by 2023.

Looking at traffic numbers, during the first nine months of the year, total Load Factor climbed 3,2 percentage points to 82 percent.

During the same period, increase in total number of passengers carried, capacity (available seat kilometer) and demand (revenue per kilometer) was 12 percent, 6 percent and 10,3 percent, respectively, over the same period of last year.

Turkish Airlines carried approximately 58 million passengers during this period. According to International Air Transport Association (IATA) first nine month figures, the global aviation sector realized capacity growth of 6 percent and demand growth of 7 percent.

Turkish Cargo, which is the world’s fastest-growing air cargo carrier, with the cargo volume it carries, new flight destinations and cargo aircraft added to its fleet, continues to maintain the services it provides to its customers in 122 countries, with Turkish Airlines quality and to increase its market share in the global air cargo market.

Having completed the nine-month period of 2018 with great success, Turkish Cargo carried more than 1 million tons of cargo with an increase of 25 percent compared to the same period of the previous year, while cargo revenue increased by 29 percent and reached to USD 1.2 billion.

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