Turkish Airlines reports strong quarter

Turkish Airlines(THY) has posted revenues up by nearly 43% over 2019 numbers to $4.5 billion for the second quarter of 2022, with passenger traffic up nearly 12% on a 12.3% increase in capacity. Yields were also up 12%, with cargo revenue up by 171% to $1.1 billion. THY’s operating profit was $520 million, with a net profit of $576 million. THY’s unit costs excluding fuel fell 10.8% compared to 2019 in the June quarter. THY plans to grow passenger capacity 10-20% year-over-three-years in the third quarter, and another 5-15% in the fourth quarter Turkish expects full-year 2022 revenues to come