Turkish Airlines increases net profits by 66 percent in second quarter

ISTANBUL

Turkish Airlines increased its net profits by 66 percent in the second quarter of the year from the same period of 2014, to 662 million Turkish Liras. 

The company’s net profits thus increased to 1.04 billion liras in the first half of the year. 

The company also increased its sales revenue by 11.5 percent to 6.85 billion liras in the second quarter of the year compared to the same period of 2014, according to financial results announced to the Public Disclosure Platform. Its sales revenue thus increased by 9 percent to 12.3 billion liras in the first half of the year compared to the same period of the previous year. 

Amid concerns about continuing losses in the lira’s value, the company has revised its expected year-end sales revenue from $12 billion to $11 billion, as reported by Reuters. 

In its assessments over the year-end budget, the company said it expected higher demand in the third quarter of the year due to two religious holidays, adding the continuance in pressure over the lira is also expected, according to Reuters. 

The company forecasted some relief in pressure over the lira. Turkish Airlines has revised its dollar/lira expectation from 2.37 to 2.68 and euro-dollar expectation from 1.18 to 1.10. 

During the period of January-July 2015, the total passengers carried by Turkish Airlines increased by 10.7 percent, reaching 34.4 million passengers from 31 million passengers for the same period of 2014, the company also said in another statement on Aug. 17.
 
The increase in the number of passengers carried on domestic and international lines was 14.1 percent and 8.2 percent, respectively. Load factor, however, decreased by 0.6 point to 78.2 percent, added the company.  
The company said the number of landings increased by 7.8 percent to 255,251 in the first seven months of the year compared to the same period of 2014. By the end of July 2015, the number of destinations rose to 276 from 259 in July 2014, it added. 

Turkish Airlines has 289 aircrafts as of July 2015, according to the statement.