Turkish Airlines – Shares Impressive Performance and Highlights Full Recovery
Turkish Airlines just released its impressive second quarter results which showed the airline had fully recovered from the previous years and was growing aggressively. The airlines Chairman, Ahmet Bolat summerized it during the earnings results call “Turkish continues to stand out among its peers continuing to expand its global network, market share, and profitability,”. To highlight its performance in the second quarter (vs. 2019 second quarter);
- Revenues increased by 43% compared to 2012 to USD$4.5 billion
- Passenger traffic grew by 12%
- The airline grew its capacity by 12.3%
- Yields were up 12%
- Net Profit of $576 million
Its largest cost increase was seen in its fuel expense which increased 86% to $1.8 billion but the airline has managed to absorb even higher costs due to its fuel hedge. The airline CFO shared that they predict the full year performance to be above 2019 levels.
Photo Credit: Turkish Airlines
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