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Turkish Airlines Shows 705m TRY Profit for 3Q2013

Turkish Airlines Shows 705m TRY Profit for 3Q2013

Turkish Airlines’ third quarter consolidated financial statements have been reported to Borsa Istanbul. Compared to the same period of 2012, Turkish Airlines sales revenue increased 28% for the third quarter and 26% for the nine months reaching a total of 13.9 billion TRY. While operating profit stood at 864 million TRY for the third quarter, it improved by 12% to reach 1.303 million TRY for the nine months. Net profit for the third quarter was 705 million, in line with last year’s results, while for the nine months it was 826 million TRY, decreasing by 6%.

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During the first nine months of 2013, 36.2 million passengers were carried implying a 24% increase in passenger traffic. In response to the 21% increase in available seat kilometres (ASK), revenue passenger kilometers (RPK) increased by 24%, resulting in a 1.8 points increase in passenger load factor, which came to 79.8% systemwide. According to the International Air Transport Association (IATA), the overall industry growth for the same period in terms of ASK and RPK was 5.0% and 4.3% respectively.

Flying to more countries than any other airline in the world, Turkish Airlines’ network coverage increased to 239 destinations (197 international) in 104 countries, including the 16 new international and six new domestic routes that have been launched in 2013. Having one of the youngest fleet in Europe, with an average age of 6.6 years, Turkish Airlines’ fleet size as of today is 231, comprising 182 narrow body, 40 wide body and nine cargo aircraft.

Turkish Airlines, while maintaining its profitability, aims to continue to improve its network and service quality to be among the world’s leading carriers and to make Istanbul an essential hub for the international aviation industry.

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Michael Flood is the Editor of Ireland's leading travel industry publication, Irish Travel Trade News. With more than 35 years experience, he has accumulated an in-depth knowledge of the airline industry and the travel and tourism world.

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