Turkish Airlines records net profit for sixth consecutive quarter

The carrier of the national flag, Turkish Airlines (THY) have reported their net profits as $2.7 billion for the year of 2022, allowing to the statement released in March by the THY Press Office.

Expansive network and skilled employees

The airline was able to keep itself distinguished from other competitors due to the expansive network of flights and highly skilled employees, which were both protected well by the company during the COVID-19 outbreak that halted travel across the world, the statement explained.

This marked the sixth consecutive quarter that Turkish Airlines had recorded a net profit, even when operating in the opposing environment that has been made since 2020 due to the pandemic. In addition, the revenue of THY has increased by an incredible 39% during 2022, passing the figures of $18.4 billion witnessed in 2019. The revenue from cargo also increased by 20% when compared to 2019, reaching an impressive $3.7 billion, which showed an increase of 120%

Chairperson speaks out on THY’s achievements

The chairperson of the board and executive committee of THY, Ahmet Bolat, celebrated the achievements of the airline, expressing that they continued to defeat obstacles that fell in the way with their remarkable 90 years of experience in flying.

New planes carry millions of passengers in 2022

The airline has also reported that in 2022, a total of 72 million passengers were transported using their new, modern and young fleet of planes, totalling 400. The airline has been able to achieve an impressive rate of occupancy across both domestic flights and international ones – 85.8% and 80.1% respectively. Even with the pressures of global inflation, THY has been successful in reducing its unit expenses by 2% in 2022 compared with 2019, excluding fuel costs, with thanks being given to the cost management team THY has assembled.

THY’s position in the world of cargo transportation

THY has been recognised as the world’s largest carrier of international seat capacity, which has achieved a noteworthy rise globally. In addition, IATA data shows that THY’s cargo fleet is the world’s fifth largest air cargo carrier in 2022, following it’s market share of cargo transportation quadrupling in the past 10 years.