Turkish Airlines nine month net profit 476 million TL
According to the reported financial statements, sales revenue increased by 15 percent, reaching 5 billion 55 million TL. Turkish Airlines operating profit stood at 610 million TL, a 35 percent increase compared to the same period in 2008. However, due to the fall on tangible assets cuased by the global recession and its effects on the global aviation sector, net profit dropped by 27 percent to 476 million TL.
During the third quarter of 2009, Turkish Airlines generated revenues totalling 2 billion 89 million TL, 17 percent more than the year before. During the same period, Turkish Airlines operating profit increased by 51 percent, reaching 454 million TL, net profit dropped by 7 percent to 374 million TL.
In parallel to the sales revenue, the upward growth trend in traffic results continued during the nine months of 2009. The number of passengers carried increased by 10 percent, to 18 million 635 thousand, cargo and mail carried increased by 9 percent to 162 thousand tons. Available seat kilometers (ASK) increased by 21 percent, while revenue per kilometer (RPK) climbed 14 percent. As a result, the passenger load factor declined by 4 percentage points from the previous year, to 70.9 percent.
The aviation sector is still exposed to the effects on the ongoing global financial crisis. In such a difficult environment, Turkish Airlines' positive operational and financial results is an indicator of the effectiveness of the strategic decisions taken and the sucess of the implemantations of these decisions. Despite the sharp declines in traffic results and unit revenues in the global aviation sector, Turkish Airlines' 35 percent operating profit increase is a significant achievement.
Being listed for the first time on the MSCI Index, which was released on November 11, 2009, is considered as an indicator of the positive results of Turkish Airlines.