Turkish Airlines Full Year Profit Up 31%
By Brian Straus, ATW Daily News | Apr. 09, 2007
On April 6, Turkish Airlines released financial results for 2006, reporting a US$132 million net profit that represented a 31.4% increase over the prior year's net earnings of US$100.5 million.
The comparison is based on capital market bond standards and does not account for currency fluctuations. It is higher than airline officials predicted in December 2006, when the carrier announced its intention to join Star Alliance.
Operating profit fell 8.6% to US$64 million owing to higher fuel costs, the company said. Revenue was up 22% to US$2.83 billion. Passenger numbers rose 19.4% to 17 million. Traffic was up 19% to 25.38 billion RPKs while capacity climbed 23.9% to 36.93 billion ASKs. The airline's fleet now numbers 103 aircraft; it will take delivery of nine this year and an additional 19 in 2008.