Turkish Airlines first half-year net profit 48 million Euro
Turkish Airlines 1st half year 2009 consolidated financial statements were reported to Istanbul Stock Exchange.
According to the financial statements, Turkish Airlines operating profit stood at 73 million Euro, a 9 percent decrease compared to the same period in 2008. However, net profit dropped by 64 percent to 48 million Euro, due to the fall on tangible assets caused by the global recession and its effects on the global aviation sector. During the same period sales revenue has not changed in Euro , reaching 1.4 bn Euro.
In parallel to the sales revenue, the upward growth trend in traffic results continued during the first half-year. The number of passengers carried increased by 9 percent, to 11 million 237 thousand, cargo and mail carried increased by 7 percent to 102 thousand tons. The 19 percent expansion in available seat kilometers (ASK) was accompanied by increasing demand in revenue per kilometer (RPK), which increased by 11 percent. The passenger load factor declined by 4.8 percentage points from the previous year, to 68.2 percent.
The downturn in global aviation sector resulted in sharp declines in traffic results and unit revenues, causing many airlines to report negative financial results. In such a difficult environment, despite the boost made in capacity, it is pleasing that Turkish Airlines operating profit surpassed the previous year’s figures.
Our goal is to maintain the same positive performance in the second half-year as well.
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