Turkish Airlines on its way to become world’s 6th-most valuable air carrier

Türkiye’s national flag carrier aims to carry over 72 million passengers in 2022 and over 88 million passengers next year.

According to the latest data on Türkiye's public disclosure platform, airlines welcomed 66.3 million passengers in January-November, a decrease of only 3.7 percent compared to 2019 pre-pandemic.

According to the latest data on Türkiye’s public disclosure platform, airlines welcomed 66.3 million passengers in January-November, a decrease of only 3.7 percent compared to 2019 pre-pandemic. (AA)

Türkiye’s national flag carrier hopes to become the world’s sixth most valuable airline brand before the start of 2023, the airline’s board and executive committee chairman told Anadolu Agency.

Turkish Airlines is the 10th most valuable airline brand in the world with a market value of €10 billion ($10.6 billion), Ahmet Bolat said on Monday.

He said this achievement is a testament to the double-digit growth in almost the last two decades, except for 2016 and 2020.

Bolat said the 2018 launch of Istanbul Airport supported the company’s growth and strength as it solved its capacity shortage problem.

“Istanbul Airport has a capacity of over 120 takeoffs and landings per hour. A new airport is essential for our growth,” he noted.

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A world class player

He said investors were happy to see the government’s clear interest in turning the Turkish aviation sector into a world-class player, resulting in them snapping up more Turkish Airlines shares.

“Passengers also prefer to fly with us because of the operational problems faced by European airlines and this has increased our profitability,” Bolat said.

By the end of this year, the airline aims to carry more than 72 million passengers and aims to carry more than 88 million passengers next year.

According to the latest data on Türkiye’s public disclosure platform, airlines welcomed 66.3 million passengers in January-November, a decrease of only 3.7 percent compared to 2019 pre-pandemic.

The company reported net revenues of $2.25 billion in the first three quarters of this year, a five-fold increase over the same period in 2019.

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A tourist magnet

With the onset of summer in June, the surge in international air traffic to and from European countries has created a crisis at many airports, where staff have been reduced due to Covid-19 and employees are on strike.

Bolat emphasized that Turkish Airlines has seen an increase in the number of point-to-point and transfer passengers, especially on long-haul routes.

“The increase in our passenger figures also comes from the increase in tourist arrivals in Turkey,” he stressed.

According to Ministry of Culture and Tourism data released last week, the number of foreign tourists visiting Turkey rose 84.8 percent year-on-year to 42.2 million in January-November.

When Turkish citizens living abroad were included in the count, the 11-month figure reached 47.6 million, ministry data showed.

“We will increase capacity by 17 percent-20 percent next year,” Bolat said.

Turkish Airlines has a fleet of more than 390 aircraft, he said, aiming for 427 by the end of 2023.

Source: AA

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