Turkish Airlines posts $258m profit in first half
Turkish Airlines’ total revenue increased significantly during the first half of the year by approximately 30 per cent compared to the same period of last year, reaching $6 billion.
Thus, having displayed a remarkable growth performance in 2017, Turkish Airlines managed to increase both passenger and cargo revenue in the first half of 2018. During the first half of the year, Turkish Airlines managed to increase net operating profit up from $17 million to $258 million, due to the increasing demand and unit revenues despite the increasing fuel prices.
In the first half of the year, EBITDAR (earnings before interest, taxes, depreciation, amortization and rent), which is used as a cash generation indicator, stood at $1.28 billion, 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.
Turkish Airlines carried more than 35 million passengers during this period. According to International Air Transport Association (IATA), in the first five month figures, the global aviation sector realised capacity growth of six per cent and demand growth of seven per cent.
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, along with Freetown, Samarkand, Krasnodar and Moroni, which have launched within this year.
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