Turkish Cargo aims for $10 billion revenue in 2033

ISTANBUL

Turkish Cargo aims to boost its revenues to $10 billion by 2033, Ali Türk, chief cargo officer at Turkish Airlines has said.

Turkish Cargo, flag carrier Turkish Airlines’ cargo brand, increased its share of global market in the first half of 2024 to 5.8 percent, while its share hit an all-time high of 6 percent in May this year, according to Türk.

In 2023, the company’s share in the global market was 5.2 percent.

“We are flying to more than 360 destinations in the world with a fleet of 456 jets, including 21 cargo planes,” Türk said.

They aim to become the top player in the market by 2033, he added, noting that in order to achieve this goal, they have designed an investment model that puts technology at the center.

Infrastructure will play an important role in the company’s strategy plan for the next 10 years, according to Türk.

“We will increase our cargo destinations to 120 in 2028 and 150 in 2033. This will give us a significant advantage in global competition,” Türk said, noting that they will have a stronger fleet by increasing the number of cargo planes from the current 21 to 44 by 2033.

The capacity at SMARTIST, the company’s mega cargo terminal, which is among the largest hubs in the world, will be increased from 2.2 million tons from 4.5 million tons, according to the company executive.

“Thus, we will raise the revenue share of our e-commerce and special cargo services, which account for 37 percent of our total revenue, to 55 percent by 2033,” Türk said.

“We plan to grow organically through investments in infrastructure, flight network and fleet, while at the same time building a logistics ecosystem supported by partnerships, e-commerce and technology investments to generate a volume of $3.2 billion,” he added.