EUROPE/CIS: Turkish aims big

Turkish Airlines CEO Temel Kotil said the carrier’s investment in new routes and aircraft is finally paying off . Revenue for the first semester rose 29 per cent year-over-year to TRY2.2 billion (US$1.8 billion), boosting the carrier’s net profit to TRY125.4 million and its net margin to 9 per cent. Load factor for the first […]


Turkish Airlines CEO Temel Kotil said the carrier’s investment in new routes and aircraft is finally paying off .

Revenue for the first semester rose 29 per cent year-over-year to TRY2.2 billion (US$1.8 billion), boosting the carrier’s net profit to TRY125.4 million and its net margin to 9 per cent. Load factor for the first nine months climbed4 points to 73 per cent.

“Last year was really a killer for us,” he said according to an ATWOnline report, referring to the massive 25.3 per cent capacity increase, the 19.4 per cent lift in flights and 24 new destinations. But the expansion is paying off as the carrier targets 20 million passengers this year, up from 17 million in 2006 with a 10 per cent increase in yields thanks to an increase in premium passengers.

“We are increasing market share, and not only in Europe. We are very strong financially and that’s why we can do what we want,” Kotil said. “Nothing is too big, even the A380.”

The airline is planning to add a sixth and seventh A330 to go along with its seven A340s and is in the market for 3-4 more long-haul aircraft to cover short-term needs.