Turkish Airlines: Net income of $ 161 million in the first quarter of 2022

Turkish airline revenue was $ 3.1 billion, a 10% increase over the first quarter of 2019 and a 141% increase in cargo flying compared to the same period in 2019

Turkish Airlines posted a net profit of $ 161 million in the first quarter of 2022. Turkish Photo

While the global aviation industry has gone through an unprecedented crisis in two years of the outbreak of the Corona virus and most airlines are still struggling to recover, Turkish Airlines (Turkish Airlines), reports the end of the first quarter of 2022 with an operating profit of $ 163 million and a net profit of $ 161 million.

The total revenue of Turkish Airlines in the first quarter of 2022 was $ 3.1 billion, an increase of 10% compared to the same period in 2019. Revenue from cargo flying amounts to 32% of the total revenue in which there was a 141% increase compared to the same period in 2019.

According to the data, it appears that Turkish Airlines, the Turkish flagship company, was able to recover earlier than its competitors in passenger transport while strengthening its cargo activity compared to the pre-epidemic situation. Despite the rise in oil prices, Turkish Airlines has managed to post a net profit by lowering its total expenses by 2 percent compared to the same period of 2019 with cost savings.

‘Flying Chef’ in the business department of Turkish Airlines. Photo from the company’s Facebook page

As a result, EBITAR (earnings before interest, taxes, depreciation and rent), which shows the company’s cash production potential, was $ 710 million, an increase of 98% compared to the same period of 2019. EBITAR margin increased by 10.3 points compared to Last year and became 23.3%.

During the first quarter of 2022, Turkish Airlines reached 91% of its passenger volume compared to the first quarter of 2019, flying 12.7 million passengers with 83.6% load factor on domestic flights and 68.6% load load on international flights. Turkish Airlines has strengthened its identity as a global airline in these difficult times with its extensive network of flights, strong frequencies and excellent hygiene standards. As of the end of March, Turkish Airlines owns one of the youngest and most modern fleets in the world with 372 aircraft, 248 of them narrow-body and 104 of them wide-body, along with 20 cargo aircraft.

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