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Turkish Airlines’ first quarter 2014 results

  • Published by Ozgur Tore

Turkish Airlines’ first quarter 2014 consolidated financial statements were reported to Borsa Istanbul. Compared to the same period of 2013, sales revenue increased by 43% (15% in USD terms) reaching 5.1 billion TRY.

thy-b737-900In the first quarter of 2014, Turkish Airlines recorded 226 million TRY net loss, in line with its budget expectations, mainly due to seasonality factors and foreign exchange rate movements. Capacity increase of 21% (available seat km) also put pressure on passenger yields.

During the first quarter of 2014, 12 million passengers were carried impliying a 20% increase while passenger load factor came to 78% systemwide. International to international transfer passengers share in total international passengers increased by 6 percentage points compared to the same period last year to reach 46%. According to the International Air Transport Association (IATA) the overall industry growth for the period in terms of ASK and RPK was 5,8% and 5,6% respectively.

As of today Turkish Airlines has scheduled flights to 45 domestic and 206 international destinations in 248 cities and 106 countries around the world. Being one of the youngest in Europe Turkish Airlines fleet consists of 249 aircraft comprising of 193 narrow body, 47 wide body and 9 cargo aircraft.

Turkish Airlines will continue to exploit its competitive advantages such as its geography, extensive route network and low cost structure in order to pursue its growth story with the aim of becoming one of the leading global airlines in the world.

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