Turkish Airlines 2010 9M Net Profit stood at 169 Million USD
Dubai, UAE; Turkish Airlines 2010 consolidated financial statements were reported to Istanbul Stock Exchange. According to the reported financial statements, sales revenue increased by 39 percent to 5 Billion US $. Approximately 79 percent of Turkish Airlines scheduled service revenue was obtained from international lines and 21 percent from domestic lines. 9M 2010 net profit and operating profit stood at 169 Million US $ and 538 Million US $ respectively.
Revenue Passenger Kilometer (RPK) increased by 22.7 percent and Available Seat Kilometer (ASK) increased by 17 percent. The number of passengers increased by 18 percent to 22 million, cargo and mail carried increased by 41 percent to 228 thousand. As a result, passenger load factor increased by 3.4 points from the previous year to 74.2 percent.
With the addition of new wide body aircraft which started to join their fleet in September, THY will be able to increase the business class segment that will result in increasing the revenue yields. Due to this addition, Turkish Airlines will also be able to increase its cargo network in the long haul as well as cargo revenue.
2010 Financial and operational results, which are higher than Turkish Airlines expectations, are a good indicator to them to achieve their 2011 growth target. Hence, they are eager to continue to apply their long term growth strategies without making any consession on their profits.
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