Wednesday, March 12, 2014

Turkish Airlines reports drop in 2013 net profit

Photo: Ali Gurbuz

Turkish Airlines reported annual net profit of TYR683 million ($307.7 million) for 2013, down from net income of TYR1.13 billion in 2012. Operating profit was up 9% to TRY1.24 billion year-over-year. Sales revenue rose 27% to TRY18.8 billion.
EBITDAR(Earnings Before Interest, Taxes, Depreciation, Amortization, and Restructuring or Rent Costs) increased 28% to TRY3.37 billion. EBITDAR margin maintained at 18%, in line with its long-term target EBITDAR level.
The airline said the 2013 consolidated financial statements were reported to Borsa Istanbul last week. The carrier increased its market share of European carriers to 12.8%.
In 2013, Turkish carried 48.3 million passengers, up 23.6% from 39 million in 2012. Load factor rose 1.4 points to 79% in 2013.
CEO Temel Kotil told ATW recently that he expects to grow to around 60 million passengers this year. The carrier has a 1.9% global market share and plans to add around30 new destinations in 2014 as well as adding 34 aircraft to its fleet.
Turkish flies to 244 destinations, comprising 202 international and 42 domestic destinations in 105 countries. It has 238 aircraft in its fleet, comprising 185 narrowbody, 44 widebody and nine cargo aircraft.
(atwonline.com)

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