Turkish Airlines has finished the third quarter of 2022 with $1.5 billion net profit on operational agility and ability to meet the increasing demand with its workforce and wide flight network.

The airline managed to conclude its fifth quarter in a row with a net profit despite the difficult operating environment that persisted since 2020.

Total revenue of our company during the third quarter of 2022 was $6.1 billion, surpassing the same period of 2019 by 52%. Constituting 14% of the total revenues, cargo revenues increased by 110% compared to the same period in 2019 and recorded as approximately $880 million.

Despite the disruptions in European airports, our company managed to meet the passenger demand by successfully conducting its operations. In spite of the inflationist pressures on the global scale, flag carrier managed to record a net profit during the third quarter of 2022 by lowering its unit expenses excluding fuel by 5 percent compared to same period of 2019. As a result, EBITAR (Earnings before interest, taxes, amortization, and rent), which shows the cash generation potential of the company, realized as $2.1 billion.

During the third quarter of 2022, passenger capacity exceeded 2019 levels by 16% and Turkish Airlines carried a total of 23 million passengers with 91.4% load factor at domestic flights and 85.3% percent load factor at international flights.

The airline’s fleet, which is one of the world’s youngest and most modern, consists of 390 aircraft, 260 of them narrow-body and 109 of them wide-body, along with 21 cargo aircraft. – TradeArabia News Service