Turkish Airlines CEO claims ticket prices will drop with Istanbul’s new airport

ANKARA - Anadolu Agency

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Turkish Airlines CEO Temel Kotil has said ticket prices will drop once Istanbul’s under-construction new airport is completed. 

“We believe our costs will decline when the third airport is completed and this will lead to slashed ticket prices. Declining oil prices have already positively affected ticket prices,” Kotil said. 

He also noted that currency fluctuations are a significant factor in setting ticket prices in the sector. 

“We have not seen any decrease in the number of our passengers. I believe we are able to make a well-balanced profit-passenger correlation,” Kotil added. 

Turkish Airlines had earlier announced its decision to convert international ticket sales originating in Turkey from the euro to the U.S. dollar. 

“Our decision has been approved by the [International Air Transport Association] IATA and has been put into action,” said Turkish Airlines in a written statement to the Public Disclosure Platform late on May 26. 

International sales originating in Turkey constitute around 15 percent of the company’s total revenue, added the statement. 

Turkey’s national flag carrier made this decision due to the sharp fluctuations in foreign exchange rates and rising expenses in dollars, according to sector representatives.