Tuesday, May 13, 2014

Turkish Airlines reports 1Q net loss

Turkish Airlines has reported a first-quarter net loss of TRY226 million ($108.7 million), which the company attributed to seasonality factors and foreign exchange rate movements.
Sales revenue rose 43% to TRY5.1 billion during the quarter.
The carrier transported 12 million passengers in the first quarter, up 20% year-over-year. Systemwide load factor was 78%. ASKs increased 21%, which the carrier said also put pressure on passenger yields.
Turkish flies to 45 domestic and 206 international destinations in 248 cities and 106 countries, with a fleet of 249 aircraft, comprising 193 narrowbody, 47 widebody and nine cargo aircraft.
On May 12, the carrier launched its sixth destination in North America, a 5X-weekly Istanbul Ataturk-Boston Logan service, which will become daily from June 9. The carrier added 4X-weekly Istanbul-Oran (Algeria) services May 7.
CEO Temel Kotil told ATW he is confident the carrier will reach its targets for 2014. “We continue to grow and it should be no problem to reach our 60 million passenger mark for this year,” he said. Turkish transported 48 million passengers in 2013. The carrier will add 32 new aircraft this year.
The airline said it will continue to take advantage of its competitive advantages such as its geography, extensive route network and low-cost structure to pursue growth.

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