Turkish Airlines (THY) has posted a loss of TL 226.3 million for the first quarter of 2014 – this was 10 times higher than the figure reported in the first quarter of 2013, which saw losses of TL 22.3 million. Sales rose during the first quarter of 2014 however from TL 3.59 billion to TL 5.13 billion. The significant losses have been attributed to increased costs, seasonal factors and currency issues with the Lira. THY’s fuel costs rose by 43% from TL 1.3 billion to TL 1.9 billion on a year-to-year basis.

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