Turkish Airlines named ‘most valuable brand’

ISTANBUL

Turkish Airlines has been named the country’s most valuable brand for 2022, for the fifth time in a row, according to a Brand Finance report.

The national flag carrier topped Brand Finance’s Turkey 100 list with a brand value of $1.60 billion.

The carrier’s brand value was also $1.60 billion in 2021.

Turkish Airlines flies to 128 countries in 334 destinations with a fleet of 372 aircraft. It carried a total of 17.7 million passengers in the first four months of 2022, including 10.8 million international travelers. The company’s revenues stood at $3.05 billion in the first quarter of this year, while its net income was $161 million.

Home appliances maker Arçelik followed Turkish Airlines with a brand value of $1.4 billion, down from the previous year’s $1.59 billion.

Carmaker Ford Otosan, which ranked 10th ($787 million) in 2021, claimed the third spot with a brand value of $819 million.

Another manufacturer of home appliances, Vestel, moved up seven places to rank fourth on this year’s list with a brand value of $720 million.

GSM operator Turkcell’s ranking was unchanged at fifth, but the company’s brand value declined from $1.06 billion in 2021 to $705 million this year.

The brand value of fashion retailer LC Waikiki, which ranked sixth on the list, was $668 million, followed by Garanti BBVA at $532 million, down from $1.19 billion in 2021.