Turkish Airlines reports annual profits above $1bn

admin
By admin March 1, 2016 21:59

Turkish Airlines reports annual profits above $1bn

Turkish Airlines has announced a net profit of over $1bn for the full year 2015 – a substantial milestone for the national flag carrier.

According to the consolidated financial statements reported to Borsa Istanbul, Turkish Airlines reported US$1bn 69 million net profit surpassing a billion dollar level for the first time in its history. Profit from main operations stood at US$895 million – an increase of 32% from previous year. Turkish Airlines generated sales revenue of $10bn 522 million in 2015.

Pointing to the operational cash generation ability, Turkish Airlines generated $2.6bn of EBITDAR with a 24.5% margin, increasing 5.7 percentage points in 2015.

In 2015 Turkish Airlines realised a capacity increase of 13.6% (available seat km) and carried 61.2 million passengers on its 453 thousand flights with a load factor of 78 percent.

“Turkish Airlines has reinforced its position among the most profitable airlines with these financial results recorded in this challenging year despite the fierce competition environment in global Aviation industry and also the political and economic instabilities over its operating environment and significant currency fluctuations,” said M. İlker Aycı, Turkish Airlines’ Chairman of the Board and the Executive Committee.

After Turkish Airlines’ consolidated financial statements were reported to Istanbul stock exchange, it was revealed that compared to the same period of 2014, the airline had increased its TL-denominated net profit by 65 percent reaching TL 2. 993 billion ($1. 96 bn) and surpassing its $1 billion goal. THY’s net operating profit also improved 72 percent to TL 2. 486 billion ($895 million). Its sales revenue saw a rise of 19 percent reaching TL 28. 752 billion, compared to the previous year.

The airline recorded a capacity increase of 13,6 percent (available seat km) during this nine-month period and carried 61,2 million passengers in its 453,000 flights with a load factor of 78 percent.

The margin of the company’s earnings before interest, taxes, depreciation and amortization (EBITDA), rose 5.7 points compared to the previous year to reach 24.5%.

admin
By admin March 1, 2016 21:59