Turkish Airlines announces 9-month net profit of TL 668 million

Turkish Airlines recently posted its consolidated financial tables for the first nine months of 2008 on the Istanbul Stock Exchange.

Based on the tables, the airline made a net profit of TL 668 million, up by 244% on the same period last year. Despite an average increase of 65% on the USD/ton cost of fuel, the airline boosted its operating profit by 18% to TL 687 million and its principal operating profit by 17% to TL 489 million.

The airline's sale revenues, three-quarters of which derive from its international routes and the remaining one quarter from the domestic routes, were up by 24% to 4 billion 416 million TL. Fuel meanwhile accounted for 36% of the airline's operating expenses this year, up from 27% in the same period last year.