Turkish Airlines returns to profit in 1H
Published: September 4, 2012
Turkish Airlines 777-300ER. By Kurt Hofmann
Turkish Airlines (TK) reported a first-half net profit of TRY164 million ($ 90 million), reversed from a TRY544 million loss year-over-year.
The airline contributed the turnaround to significantly stronger first- and second-quarter results compared to the same periods last year. Despite a first-quarter loss of almost THY30 million due to seasonal factors, strong performance in the second quarter pushed net operating profit to TRY271 million, resulting in a first-half TRY52 million net operating profit.
During the period, sales revenue increased 36% to TRY6.7 billion, and passenger numbers were up 20% to 18 million. ASKs and RPKs increased 19% and 24%, respectively, while load factor was up 5.7 points to 75.2%.
In the first half, the airline added eight international destinations, increasing the number to 157. It also added 19 aircraft to its fleet, for a total of 194, comprising 151 narrowbody, 37 widebody and six cargo aircraft.