Turkish Airlines chief sets out his expansion vision

Victoria
By Victoria January 9, 2012 15:05

Turkish Airlines chief sets out his expansion vision

Temel Kotil, chief executive of Turkish Airlines, has reiterated his vision for the airline to become the world’s largest carrier by flight network by 2023. Today the airline ranks as the eight largest by network with 152 international and 44 domestic routes. Kotil plans to add nine more cities in 2012 including Mogadishu in Somalia and Buenos Aires in Argentina, and over the next five years, the plan is add 250 routes. To cope with the increased network, Turkish Airlines will need to increase the 178-strong aircraft fleet.

Last year, the airline carried 32.9 million passengers, more than triple from 10.5 million, or a 213% increase since 2003. That said, expansion does not come cheap and such investment coupled with high fuel costs have reduced its operating profit, from the historic peak of US$571 million in 2008 to $151 million estimated for the first nine months of 2011. Its operating profit in 2010 was $321 million.

Victoria
By Victoria January 9, 2012 15:05
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