JEDDAH: Turkish Airlines reported $1.69 billion net profit surpassing $1 billion level for the first time in its history, the company said in the consolidated financial statements reported to Borsa Istanbul.
Profit from main operations stood at $895 million with an increase of 32 percent from the previous year. Turkish Airlines generated sales revenues of $10.522 billion in 2015.
Pointing to the operational cash generation ability, Turkish Airlines generated $2.6 billion of EBITDAR with a 24.5 percent margin, increasing 5.7 percentage points in 2015. With these financial results the company strengthened its place among the most profitable airlines in the world despite the political and economical instabilities over its operating environment and significant currency fluctuations.
In 2015 Turkish Airlines realized a capacity increase of 13.6 percent (available seat km) and carried 61.2 million passengers on its 453,000 flights with a load factor of 78 percent.
İlker Aycı, Turkish Airlines’ Chairman of the Board and the Executive Comittee, said: “First of all, I would like to specify that we successfully completed 2015 which was generally described as a tough year for both the world and our country. Turkish Airlines has reinforced its position among the most profitable airlines with these financial results recorded in this challenging year,” despite the fierce competition in the global aviation industry and also the political and economical instabilities over its operating environment and significant currency fluctuations.”
Selected the “Best Airline in Europe” for the fifth time in a row, today Turkish Airlines flies to 49 domestic and 235 international destinations, a total of 284 destinations in 113 countries including routes inaugurated in 2015 such as San Francisco, Miami, Maputo, Taipei and Manila. One of the youngest airline fleets in the world Turkish Airlines now operates 304 aircraft comprising 75 wide body, 219 narrow body and 10 cargo aircraft.
Providing close to 47,000 jobs together with its subsidiaries Turkish Airlines is considered the biggest exporter of Turkey generating over $7 billion of exports with more than 70 percent of its ticket sales being made abroad. As the country’s global brand Turkish Airlines continues to grow and support Istanbul as a global aviation hub.
