Turkish Airlines’ First Half 2011 Consolidated Financial Results are reported...

26.08.2011


Sales Revenue Increased by 31%,Reaching to 4.905 Million TL...

Turkish Airlines’ six month 2011 consolidated financial statements were reported to Istanbul Stock Exchange. 

Compared to the same period of last year, the number of passengers carried increased by 10%, to 14,8 million, business class passenger increased by 14%, reaching to 581 thousand. These results is an indicator of the fact that Turkish Airlines sustaines to grow and increase its’ market share, in such an environment where the level of competition is intense.  
 

Traffic Data

2011    

1 Half

11/'10        % Change

  Weekly Flights

4.829 

+10 

  Number of Destinations

182

+12

  Available Seat Km (Million)

37.522

+24

   Revenue Passenger Km (Million)

26.072

+19

   Total Passengers Carried (Thousand)

14.782

+10

 

Transfer Passengers (Thousand)

5.302 

+11

 

B/C Passengers (Thousand)

 581

 +14

   AEA Passenger Market Share (%)

 8,33

       +0,1 p.

During the first half of 2011, Turkish Airlines’ sales revenue increased by 31%, reaching 4.905 million TL. Cash, by the end of period, stood at 730 million TL, a 16% increase compared to the same period in 2010. 

Since the last quarter of 2010, the number of wide body aircraft has increased due to the new deliveries, according to the long term growth strategy by opening ne routes, capacity increased in long haul  routes.    Due to the capacity increase in 2011,  load factor as well as revenue yield has been effected negatively, resulting 266 Mn TL Operational Loss.  Net loss stood at 544 Mn TL, due to predominantly  financial lease liabilities’ currency translation difference.

 

Financials &Fleet

2011    

1 Half

10/06 – 11/06        % Change

Revenues  (Mn TL)

4.905

+31

Net  Loss (Mn TL)

(544)

-335

Cash  (Mn TL)

730

+16

Total Assets (Mn TL)

    13.422   

+46

Total Debt (Mn TL)

    10.202   

+83

Narrow Body Aircraft

131

+11

Wide Body Aircraft

37

+85

Cargo Aircraft

7

+75

Total Fleet Number

175

+22

Utilization

11:27

- 4,5
2011 is the year for Turkish Airlines where its investment has accelerated and took  quantum leap during its 8 year growth period.  

At the end of June 2011 number of personnel has increased by 12%, reaching to 17.840 compared to same period last year from 15.937 personnel.   The cockpit crew has increased by 33% to 2.449; cabin crew has increased by 26% to 5.537, compared to same period of 2010.  

MENA distruption and Japan earthquake had negative effect on  traffic at these regions as well as on transfer passengers.  Furthermore, fuel price had also negatively effected and brought additional burden of 264 Mn TL beside the budgeted fuel expenses.

The below graphic shows the details of items which have effected 2011 operational profit compared to last year’s half year results.



Turkish Airlines is targeting to carry 32.9 million passengers at the end of 2011 and will have the return of its investments in the coming years.

Turkish Airlines continues its healthy growth  while targeting to be one of the world’s top airlines, therefore takes confidence steps towards to secure Istanbul as  an outstanding aviation center.

Turkish Airlines, Inc
Media Relations

 

 
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