Turkish Airlines Announces Consolidated Financial Results for the First Half of Fiscal 2006
On August 8th, 2006 Turkish Airlines (THY) has announced its Consolidated Financial Results for the First Half of Fiscal 2006. As announced before, Turkish Airlines has established Turkish Airlines Technic on May 23rd, 2006 in order to increase efficiency by separating two businesses, maintenance and airline, so that each business can concentrate on its own field and to help Turkish Airlines Technic becomes one of the important MRO centers in the region. Financial results of THY as of June 30th, 2006 are consolidated in accordance with the Standards of Capital Market Board of Turkey, which are parallel to IFRS.
Consolidated Financial Results for the First Half ended June 30, 2006
-Net Profit $23mn (+133%)
-Profit before tax $68 mn (+230%)
-Operating Revenue $1,174 mn (+12%)
-Assets $2.724 mn (+8%)
-Passengers carried 7.5 mn (+15%)
Due to 26% average increase in fuel prices in 2006 compared to the same period of 2005, an additional $74 mn fuel cost burden arised on the Operating Profit.
The growth in the airline sector and increase in the number of passengers have been supported by the fleet expansion by the Company, in order to meet demand. 100th aircraft has recently joined the fleet and more to join the fleet.
For Further Information please contact
Investor Relations Department
Tel: 90-212-468-7030 or 90-212-463-6363 x-3630
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.
* USD figures announced here are the simple conversion of Turkish Lira (TL) figures in the TL financial statements, balance sheet items being converted by period-end and Profit / Loss items being converted by period-average exhange rates.