Strong profit and demand: Turkish Airlines Q2

A Turkish Airlines A330 approaches to land.
Riik@mctr, CC BY-SA 2.0, via Wikimedia Commons

Despite challenges which have dogged the industry since 2020, Turkish Airlines has concluded the second quarter of 2023 on a high note.

The Turkish flag carrier has finished the second quarter of 2023 with 635 million USD net profit by responding strong international demand.

It also enjoyed a passenger capacity which was 28% higher than the pre-pandemic 2019 levels.

Turkish Airlines Performance Q2

During the second quarter of 2023, Turkish Airlines reported a net profit of 635 million USD, signaling a remarkable achievement in a time of uncertainty.

This success can be attributed to the airline’s steadfast response to international demand and its commitment to delivering quality service.

The corporation’s total revenue for the quarter reached an impressive 5.1 billion USD, marking a substantial increase of 13.5% when compared to the same period last year.

While global trade deceleration and the impact of earthquakes led to a 44% decline in cargo revenues year-over-year, reaching 600 million USD, this figure still stood at an impressive 53% higher than the levels recorded in 2019.


A Turkish Cargo Boeing 777 freighter approaches to land.
MarcelX42, CC BY-SA 4.0, via Wikimedia Commons

Exceeding Expectations

Despite the challenges posed by the ongoing pandemic, Turkish Airlines managed to exceed expectations in terms of international airline capacity.

While global international airline capacity remained 12% below the 2019 levels, according to data from airline data provider OAG, Turkish Airlines soared above the competition by surpassing its 2019 international capacity by an impressive 29%.

A Leading Network Carrier

Notably recognized as Europe’s leading network carrier in terms of daily flights for the past three years by the European Organization for the Safety of Air Navigation (EUROCONTROL), Turkish Airlines continued to hold this esteemed status in the second quarter of 2023.

This achievement speaks to the airline’s consistency and dedication to providing seamless connectivity and efficient service.

Modern Fleet and Remarkable Growth

Boasting a modern fleet of 419 aircraft, Turkish Airlines stands out with its commitment to innovation and growth. In the second quarter of 2023, the airline expanded its fleet by an impressive 10% compared to the same period the previous year.

This expansion enabled Turkish Airlines to cater to the needs of over 21 million passengers during the quarter, achieving a domestic load factor of 81.5% and an international load factor of 81.8%.

Sustainability Initiatives

Turkish Airlines has taken substantial steps towards reducing its carbon footprint since 2008, undertaking over one hundred operational optimization projects.

These efforts have not gone unnoticed, as the airline was once again honored with the title of “Most Sustainable Flag Carrier Airline” by World Finance.

This recognition highlights the airline’s dedication to sustainability and its ambitious commitment to becoming a “Carbon-Neutral Airline by 2050”.

A Strong Workforce and Proud Legacy

With a workforce of over 80,000 employees, including its subsidiaries, Turkish Airlines stands as a proud representative of Türkiye on the global aviation stage.

The airline’s enduring success is a testament to its unique flight network, modern fleet, exceptional service quality, and commendable financial performance.

As Turkish Airlines continues to fly the nation’s flag high, it remains a beacon of excellence in the aviation industry.

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By Len Varley - Assistant Editor 4 Min Read
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