208$ Mn net profit of Turkish Airlines for the 1 H 2008

Turkish Airlines has announced its Consolidated Financial Results for the 1H 2008 period. According to its financials, THY was able to achieve 219% increase on Net Profit of $208 mn. Although, fuel price increased by 61% which resulted additional cost of $258mn, Operating Profit increased by 25% to $267mn, net operating margin and net profit margin increased by 13% and 10% respectively.

Consolidated Financial Results for the 1H 2008

- Net Profit $208 mn (+219%)
- Profit Before Tax $262 mn (+208%)
- Operating Revenue $2,131mn (+37%)
- Assets $4,969 bn (+18%)
- Passenger carried 10.3 mn (+15%)

Operating revenue increased by 37% to $2.131 mn.; 76% of scheduled revenue was from international traffic and 24% was from domestic traffic. In the operating costs, fuel cost’s portion is increased by 8 points from pervious year to 34%.

Parallel to revenue increase, traffic results also increased compared with previous year. Accordingly, number of passenger carried increased by 15% to 10 mn, cargo-mail increased by 7% to 96 thousands tons. Available Seat Km (ASK) and Revenue Per Km (RPK) increased by 10% and 14% respectively, which increased the L/F by 3 points to 72.9%

Although fuel price increase has negative effect in the industry, our 1H 2008 results have encouraged us to look positive for the rest of the year.

For Further Information please contact

Investor Relations Department
Tel: 90-212-463-6363 x-3630 or 90-212-468-7030
E-mail: ir@thy.com

Disclaimer: This English-language media release is provided for information purposes only; reliance should only be placed for all statutory and regulatory and other purposes on the original Turkish language version alone.

17.03.2013 Updated