Turkish Airlines posts $635mln Q2 profit; capacity up 28%

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Turkish Airlines finished the second quarter of 2023 with $635 million net profit by responding strong international demand with 28% higher passenger capacity than the 2019 level.

Through its 90 years of experience and successful crisis management, Turkish Airlines once again showed its ability to overcome the negative circumstances surrounding our industry since 2020, the airline said.

In the second quarter, the company’s total revenue reached to $5.1 billion, increasing by 13.5% compared to the same period last year. Due to decelerating global trade and earthquake impact, its cargo revenues decreased by 44% year-over-year to $600 million, %53 higher than the 2019 level.

While global international airline capacity in the second quarter of 2023 was 12% below that of 2019 according to data published by airline data provider OAG, Turkish Airlines was among one of the few airlines in the industry to exceed its 2019 international capacity by 29%.

With one of the youngest and most modern fleet of 419 aircraft, Turkish Airlines increased its fleet size by 10% compared to the same period of last year. In the second quarter of 2023, the airline carried over 21 million passengers in total, with a domestic load factor of 81.5% and an international load factor of 81.8%.

Undertaking over 100 operational optimisation projects to reduce its carbon footprint since 2008, Turkish Airlines was awarded the title of “Most Sustainable Flag Carrier Airline” once again by World Finance as a result of the sustainability focused initiatives in line with its commitment to become a “Carbon-Neutral Airline by 2050”, it said.

The airline employs over 80,000 staff including in its subsidiaries.