THY IN SHOCK LOSS

TESTCustomwebLP TESTCustomwebLP
By TESTCustomwebLP TESTCustomwebLP November 12, 2010 10:12

THY IN SHOCK LOSS

Turkish Airlines (THY) posted a third-quarter loss yesterday of 22.7 million Turkish lira ($16 million), confounding forecasts for net profit of 231 million lira. Sales amounted to 2.539 billion, in-line with forecasts and up 19.8% on the same period a year earlier.

The airline, Europe’s fourth-largest carrier by passengers, said January to October passenger numbers were up 17.3% at 24.5 million.

Initial reaction to the surprise loss was that a fleet revaluation might have been to blame. In August Turkish Airlines warned rising oil prices had lifted jet fuel costs by 64%.

TESTCustomwebLP TESTCustomwebLP
By TESTCustomwebLP TESTCustomwebLP November 12, 2010 10:12
Write a comment

No Comments

No Comments Yet!

Let me tell You a sad story ! There are no comments yet, but You can be first one to comment this article.

Write a comment

Only <a href="http://www.aviationnews-online.com/wp-login.php?redirect_to=http%3A%2F%2Fwww.aviationnews-online.com%2Fairline%2Fthy-in-shock-loss%2F"> registered </a> users can comment.