Turkish Airlines posts profit of more than USD 1 billion in first 9 months


12th Nov, 2018 | Tourism Mail Crew


KATHMANDU, Nov 12: Despite the increasing fuel prices, Turkish Airlines have posted profit from main operations of USD 1 billion 149 million in the first 9 months of 2018 due to the increasing demand and unit revenues.

Turkish Airlines has  managed to increase both passenger and cargo revenue significantly and have achieved a total revenue of approximately USD 4 billion in the third quarter of the year. With such remarkable performance, sales revenue in the first nine months increased by 20 percent to USD 9.9 billion, compared to the same period of 2017.

Continuing its uninterrupted profitable growth performance, Turkish Airlines managed to increase its net profit by 3 times in the first 9 months of the year and completed this period with a net profit of USD 755 million. In the first nine months of 2018, EBITDAR (earnings before interest, taxes, depreciation, amortization and rent), which is used as a cash generation indicator, increased by 16 percent to USD 2.8 billion, with an EBITDAR margin of 28 percent.

Commenting on this brilliant success, Turkish Airlines Chairman of the Board and the Executive Committee, M. İlker Aycı said; “We are delighted and proud to announce our third quarter results of this year, in which we put great emphasis on strengthening and improving the infrastructure conditions we have. He also thanked all their passengers, employees, business partners and stakeholders who have contributed to this important achievement.