Turkish Airlines said that its total revenue increased during the first half of the year by 30 per cent compared to the same period of last year, reaching $6 billion. According to the airline passenger and cargo revenue increased in the first half of 2018. During the first half of the year, net operating profit rose 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, earnings before interest, taxes, depreciation, amortisation and rent, which is used as a cash generation indicator, stood at $1.28 billion, a 38 per cent increase. Operating margin improved by 1,5 percentage points to 21.5 per cent. This value is the highest first half has had. Turkish Airlines, continues to be one of the most profitable airlines in the sector. 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.
During the same period, increase in total number of passengers carried, capacity available seat kilometre, and demand, revenue per kilometre, was 18 per cent, 9 percent and 16 percent, 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) first five month figures, the global aviation sector realised capacity growth of 6 per cent and demand growth of 7 per cent.
Turkish Airlines, 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 were launched during the year. The fleet of Turkish Airlines, operates a total of 325 aircraft, comprising 215 narrow body, 92 wide body and 18 cargo aircraft. Investing in the most advanced and environmentally friendly new generation aircraft, Turkish Airlines aims to reach a fleet of 500 aircraft by 2023.
Targeting to become one of the world’s largest air cargo carriers, Turkish Cargo forms a wide corridor from Asia to Africa and Europe to Latin America. In the first half of 2018, Turkish Cargo managed to increase not only the amount of cargo carried by 28 percent, compared to the same period of last year, up to approximately 660 thousand tons, but also the cargo revenue by 35 percent, up to USD 784 million. Despite the strong global competitive environment, economic and political uncertainties in the nearby region and severe operating conditions due to the fuel price and currency fluctuations, Turkish Airlines, having around 52 thousand employees with its subsidiaries, continues to generate successful results and will continue its trend in the sustainable growth path as the global brand of Turkey.
