Revenue growth for Turkish Airlines
Turkish Airlines saw a significant increase in the first half of the year by 30 per cent. Compared to the same period of last year, this year it reached USD 6 billion. Having displayed a remarkable growth performance in 2017, Turkish Airlines managed to increase both passenger and cargo revenue in the first half of this year.
During the first half of the year, Turkish Airlines managed to increase net operating profit up from USD 17 million to USD 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, amortisation and rent), which is used as a cash generation indicator, stood at USD 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.
The 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 a total number of passengers carried, capacity (available seat kilometre) and demand (revenue per kilometre) was 18 per cent, 9 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 the International Air Transport Association (IATA) first five month figures, the global aviation sector realised the capacity growth of 6 per cent and demand growth of 7 per cent.
Turkish Airlines continues to strengthen its identity as a leading global airline with its ever-expanding flight network, currently operating 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.
Targetting to become one of the world's largest air cargo carriers, Turkish managed to increase the amount of cargo by 28 per cent, compared to the same period of last year. Going up to approximately 660 thousand tonnes, the cargo revenue also increased by 35 per cent, with revenues of USD 784 million.