Turkish Airlines reports record Q1 revenue and profit

Turkish Airlines reported a $233 million net profit for Q1 2023, its most for a first quarter and its seventh quarterly profit in a row. The Middle Eastern airline’s revenue hit $4.4bn, another Q1 record, with $3.6bn of it given as passenger revenue. The overall increase came in at 43% year-on-year, while the passenger segment increase was over 80%. During the period the airline carried over 17 million passengers, with a domestic load factor of 80.1% and an international load factor of 81.4%. “Despite the negative effects of global inflationary pressures on costs, EBITDAR, which demonstrates the cash generation ability