As aviation and tourism pick up once again globally following the COVID-19 pandemic and lockdowns, Turkish Airlines have been named the ‘Biggest Winners’, a French financial newspaper has reported.
A report published wrote that the airline, the national flag carrier for Turkey, had become the first international airline company to bring in a profit in 2021, as the European air travel rebounds following the pandemic. They are on course for record earnings this year, the same report found.
A huge increase from 2019
By July in 2022, Turkish Airlines had produced a net profit of 737 million USD, or TL 1.32 billion. The airline carried 10% more passengers in July 2022 compared to July 2019, with a total number of 7.8 million passengers. July of 2019 was the prime travel month for the final pre-pandemic summer.
The financial report cited data from the European Organization for the Safety of Air Navigation (Eurocontrol) and stated that Turkish Airlines is the most active traditional airline operating in Europe, with an average number of 1,506 daily flights in the beginning of August into the European airspace. This was miles ahead of Lufthansa, with a daily average of 1,202, and Air France, which totalled 1,065 average daily flights. The report added that only budget airline carriers, such as Ryanair and EasyJet, had higher daily averages for flights compared to Turkish Airlines.
The opening of the airport
The report stated that the main reason for the success of the airline was thanks to the opening of Istanbul Airport, a world-class facility that opened in 2018. The airport hosted more travellers in the first seven months of 2022 than the entire figures printed for 2019, with the key rivals in Europe lagging behind their pre-pandemic levels, between 10% and 15%. In May and June of 2022, looking at international arrivals through the airport, Istanbul sat ahead of both London Heathrow and the Parisian airport Charles de Gaulle.
The report stated that the airline had climbed from tenth to fourth in the ranking of global air transportation, which increased its services by 60%. The freight arm of Turkish Airlines, Turkish Cargo, showed that their revenue had more than doubled in the past three years since 2019, surpassing 2 billion USD in only the first six months of 2022, overtaking Air France-KLM.
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