GoDubai
  
  
  
  
Citylife > Press Release
  Home Contact us Add to Favourites
Most Recent Postings
More Press Releses
Featured Sections

Event Finder
A daily roundup of exhibitions, promotions and other events in Dubai and the rest of the Emirates.
Submit an Event
Latest Dubai Press Releases >> Travel, Tourism and Hotels

 
  Share

With USD 939 million in 2017 Q3, Turkish Airlines posts record operating net profit of all 3rd quarters in company history

Dubai, United Arab Emirates - 15 November 2017: Turkish Airlines, given the financial discipline and dynamic demand management applied since the beginning of 2017, with USD 939 million in 2017 Q3, posted record net profit of all 3rd quarters in company history. The 9-monthly operating net profit is recorded as USD 956 million.

The successful 3rd quarter marked a 23 percent increase on total revenues compared to the same period of 2016, reaching USD 3.6 billion. The 9-monthly average on total revenues marked USD 8.2 billion with an 8 percent increase.

According to Turkish Airlines 2017 Q3 financial results; the margin of its earnings before interest, taxes, depreciation and amortization (EBITDA) increased 90 percent to USD 1.5 billion. The 41 percent EBITDA margin confirms the Airline's position amongst the most profitable airlines of the industry.

“The net profit recorded in 2017 Q3, clearly demonstrates our capacity to generate cash” Turkish Airlines Chairman of the Board and the Executive Committee İlker Aycı said. “As the Turkish Airlines family with our common aim to become one of the leading five star airlines of the world, we will continue this growth trend without ever compromising form our service quality. As largest exporter of Turkey, our march will continue to position Istanbul as a major hub for international airport” he added.

According to the 2017 Q3 financials, Turkish Airlines with 81.5 percent reached the highest September occupancy capacity of the past 5 years. The airline's occupancy capacity increased by 17 percent compared to Q3 of 2016, with the airline serving 21.3 million passengers. Hence the 9-monthly average reached 79 percent occupancy reaching 52 million passengers. Financial measures applied translated as 6 percent decrease in the 9-monthly operational costs.

As to Turkish Cargo, the company increased destinations from 55 to 72 as of 2017 Q3, reaching to 294 thousand tons of cargo with 29 percent increase. Turkish Cargo in the third quarter of 2017 also increased revenues by almost 40 percent reaching USD 343 million. Turkish Cargo was recently awarded with the ‘Best Air Cargo Carrier in Asia”.

Along with the new destinations of 2017 such as Samara and Phuket, the number of destinations served by the flag carrier reached 300 in the 3rd quarter of 2017, including 49 domestic and 251 international destinations in 120 countries. The fleet of Turkish Airlines, one of the youngest of the world, contains 223 narrow body planes, 90 wide body planes and 16 cargo planes, a total of 329 aircrafts.



Posted by : GoDubai Editorial Team
Viewed 6259 times
Posted on : Wednesday, November 15, 2017  
Replication or redistribution in whole or in part is expressly prohibited without the prior written consent of GoDubai.com.
Previous Story : Lockheed Martin Integrates New Engine for Fury Unmanned Air Vehicle
Next Story : Emirates partners with Thales for next generation broadband connectivity
Email this article Print this article

Share this article with your friends and followers
NewsVine

Comments

Back to Top  
Most Viewed Press Release posted in the last 7 days
AIGNER Love
New Year, New Skincare!
Signature Scents for Your Home
Spring/Summer 18' Beauty Picks from Missha Cosmetics
Mido's Baroncelli Prisma - A sparkling play of prisms enhanced by 51 diamonds'
The Trésor Collection
5 Different Types of Denim and How to Wear Them
“12th Edition of SNF's Family Fun Fair”
Malabar Gold & Diamonds strengthens its global position as a leading jewellery r...
The Balmain de Balmain Moon Phase Collection - loves personalisation to the moon...
ESC's INDIASOFT to Bring Over 400 ICT Foreign Buyers To Bengaluru
Tommy Hilfiger Announces Fall 2017 Watches Collection
Seamaster Olympic Games Collection
EUROSTAR presents seven global tech majors at CABSAT 2018
Womenswear Preview and Showroom Connection: WHITE Man & Woman's Formula Bets on ...
Sophie's Café brings all the goodness to Barsha Neighbourhood
Defender Lives on: Land Rover Launches V8 Edition To Celebrate 70th Anniversary
Nissan reaffirms importance of electrification at World Future Energy Summit
Nissan and NASA extend research into autonomous mobility services
Dubai Tour team line-up announced: 16 teams of seven riders at the start
CG of India declared Champion at the 2nd Diplomat Cricket Cup by Skyline Univers...
Bioré's Baking Soda Range
LG to Launch UltraFine 5k Display Tailored for Mac Users
Dubai Outlet Mall celebrates DSF 2018 with amazing attractions for shoppers
HydroPeptide Launches Nimni Cream in UAE
His Highness Sheikh Hasher bin Maktoum bin Juma Al Maktoum Visits du's Stand on ...
LG Electronics Earns CES 2018 Best TV Product Honors for LG AI OLED TV
Dubai's Star Business Centre becomes the first commercial centre to accept crypt...
Bleu Blanc by David Myers announces its Friday Brunch and unique spa and dine Va...
HH Sheikh Hasher Bin Maktoum Al Maktoum opens CABSAT 2018
Ahlan Business Class Lounge by Dubai International Hotel wins Priority Pass Midd...
Masdar unveils locally manufactured all-electric Eco-Bus at Abu Dhabi Sustainab...
Masdar Institute and Cleanergy Partner in Research on Thermal Energy Storage for...
IRENA Commission to analyse how energy transformation driven by renewables will ...
ENEC CEO: Barakah will be the first nuclear energy plant in the Arab world, sett...
2018 ‘Camel Trek' of the UAE embarks from ‘Empty Quarter' in Abu Dhabi
IHG® partners with Global EVRT for ‘Electric Vehicle Road Trip Middle East 2018'
11th World Future Energy Summit Opens its Doors in Abu Dhabi
Major Business Deals Announced on Day Two of World Future Energy Summit in Abu Dhabi
Is this Abu Dhabi's Most Lavish Valentine's Day Deal?
Launching Scheme of Projects and Initiatives that Enforce Water and Electricity ...
Under the patronage of H. H. Sheikh Hamdan Bin Rashid Al Maktoum, 8th Emirates ...
Autonomous vehicle specialist NAVYA to realise expansion of Masdar City sustain...
Toyota and Lexus on a mission to drive decarbonized mobility at Abu Dhabi's Worl...
Pure Gold Jewellers Unveils Collection of Special Edition Diamond Pendants for V...
H.E Dr. Thani Alzeyoudi, Minister, Ministry of Climate Change and Environment, U...
Eighth General Assembly of International Renewable Energy Agency Kicks Off in Ab...
Emirates signs agreement for up to 36 additional A380s
Longlist, judges and dates announced for International Prize for Arabic Fiction 2018
Sheikh Mohamed Bin Zayed along with the President of Mauritania and the Crown Pr...