155 Mn TL ($94 Mn) Net Profit Of Turkish Airlines Inc. For The 1Q 2009
Turkish Airlines has announced its Consolidated Financial Results for 1Q 2009 period. According to its financials, THY was able to achieve Net Profit of TL155 mn (-24%). Decrease in fuel price had a positive affect on fuel expenses, which decreased its portion in total expenses from 32% to 22%. Operating margin and net margin for the period was 4.5% and 12% resepectively.
Consolidated Financial Results for the 1Q 20091
Operating revenue increased by 18% to TL1,279 Mn.; 78% of scheduled revenue was from international traffic and 22% was from domestic traffic.
During the period traffic results also increased compared with previous year. Accordingly, number of passenger carried increased by 8% to 4.9 mn, cargo-mail increased by 7% to 48 thousands tons. Available Seat Km (ASK) and Revenue Per Km (RPK) increased by 15% and 9% respectively. Due to intensive increase in capacity load factor had negatively effected thus, decreased by 3.7 poınt to 66.1%.
Although reduction in fuel price had a positive signal, global economic crisis has gravely affected many airlines in the industry. However, due to in advance measures taken financially and proper decisions by Turkish Airlines, Turkish Airlines was able to achieve positive results and keen to follow up its strategic and operational decisions very closely to sustain the positive results for the coming periods as well.
Turkish Airlines, Inc.