Turkish Airlines Records $258m Net Profit In H1

Turkish Airlines has announced revenue increase of 30 per cent in the first half of the year.

The airline, in a statement on Tuesday, said it revenue reached $6bn, adding that having displayed a remarkable growth performance in 2017, it also recorded an increase in both passenger and cargo revenue in the first half of 2018.

It added that during the first half of the year, its net operating profit increased from $17m to $258m, due to the increasing demand and unit revenues despite increasing fuel prices.

The statement read in part, “In the first half of the year, earnings before interest, taxes, depreciation, amortisation and rent, which is used as a cash generation indicator, stood at $1.28bn, with a 38 per cent increase. EBITDAR margin improved by 1.5 percentage points to 21.5 per cent. This value is the highest first half EBITDAR value that Turkish Airlines, that continues to be one of the most profitable airlines in the sector, has so far achieved.

“During the first half of the year, total load factor climbed 4.3 percentage points to 80.4 per cent, recording the highest load factor in Turkish Airlines history for the first half. During the same period, increase in total number of passengers carried, capacity (available seat kilometer) and demand (revenue per kilometer) was 18 per cent, nine per cent and 16 per cent, respectively, over the same period of last year.”

According to the statement, Turkish Airlines carried more than 35 million passengers during this period.

“Turkish Airlines, which continues to strengthen its identity as a leading global airline with its ever-expanding flight network and the implementation of other significant investments, currently operates flights to 49 domestic and 255 international destinations, a total of 304 destinations in 122 countries,” it added.