Turkish Airlines’ financial results for the first half of 2006

Turkish Airlines recently announced its consolidated financial figures for the first half of 2006. The airlines’ net profit was up by 141% to TL 32 million and its pre-tax profit by 242% to TL 94 million on the same period last year.
Fuel prices, which rose by an average of 26% in U.S. dollar terms in the same period last year, placed an additional drain of TL 102 million (US$74 mn) on the airline’s operating profits. Parallel with growth in the aviation sector, the number of passengers is also up by 15% to 7.5 million. To shore up and further boost this growth, Turkish Airlines has added, and will continue to add, new aircraft to its fleet, which recently acquired its 100th plane. To insure efficiency in the various operating units and achieve its goal of becoming the chief aircraft maintenance base in its region, Turkish Airlines also founded Turkish Technique, Inc,. on 23 May 2006.