Turkish Airline Firmly Back in Profit
Turkish Airlines 1st half year of 2010 consolidated financial statements were reported to Istanbul Stock Exchange.
According to the financial statements sales revenue has increased by 28 percent in Euro, reaching to 1.8 bn Euro and net profit increased by 181 percent to 134 million Euro. Turkish Airlines operating profit stood at 55 million Euro, a 34 percent decrease compared to the same period in 2009, due to increasing fuel prices hence 74 percent increase in fuel expenses compared to last year.
In parallel to the sales revenue, the upward growth trend in traffic results continued during the first half-year. The number of passengers carried increased by 19.3 percent, to 13 million 395 thousand, cargo and mail carried increased by 49.6 percent to 152 thousand tons. The 19.9 percent expansion in available seat kilometers (ASK) was accompanied by increasing demand in revenue per kilometer (RPK), which increased by 26.8 percent. The passenger load factor is increased by 4.1 points from the previous year, to 72.1 percent.
Globally aviation industry start recovering in 2010, if another unexpected economic stagnation does not happen, recovering is expected to continue.
Hence, positive expectations will contribute in the growth of Turkish Airlines as well as receive better financial results in the future.
