Turkish Airlines reports strong results for early 2018
Turkish Airlines has seen revenue increased by 30 per cent year-on-year for the first half of financial 2018, reaching US$6 billion.
Net operating profit rose from US$17 million last year to US$258 million in the six-month period, despite increasing fuel prices.
EBITDAR stood at US$1.28 billion after a 38 per cent increase, and the airline’s 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 has ever achieved.
Total load factor climbed 4.3 percentage points to 80.4 per cent, another record for the first half, and the total number of passengers carried was up 18 per cent to 35 million.
Turkish Airlines, which operates flights to 304 destinations in 122 countries, added Freetown, Samarkand, Krasnodar and Moroni to its schedules during the first half of 2018.
International Air Transport Association first five-month figures show the global aviation sector realising capacity growth of only six per cent and demand growth of only seven per cent.
Turkish Cargo also had impressive results, increasing the amount of cargo carried by 28 percent to approximately 600,000 tons and lifting cargo revenue by 35 per cent to US$784 million.