Turkish Airlines says passenger traffic up 8.5% y/y in H1

By bne IntelliNews July 14, 2015

Turkish Airlines (THY) said on July 14 that the number of passengers it served increased by 8.5% y/y to 28.5mn in January-June, with domestic passenger traffic rising by 11.2% y/y and international passengers up by 6.6% y/y.

The load factor was down 1 point to 77.8%, ASK (available seat kilometre) rose by 10.1% y/y to 70.7bn and RPK (revenue passenger kilometre) increased by 8.6% y/y to 55bn in the first half of the year, said THY in a filing with the Stock Exchange.

The number of landings (passenger aircraft) increased by 6.2% y/y to 212,446, while the number of destinations rose to 276 in June from 257 in the same month of 2014 with domestic destinations increasing from 43 to 48 and international destinations rising from 214 to 228.

THY has 282 aircraft in its fleet as of end-June, up from 250 a year ago.

The carrier expects $12bn revenue in 2015 and targets to serve 63mn passengers this year, including 25.9mn domestic and 36mn international passengers this year. By the end of 2015 the fleet size will reach 293, including 214 narrow-body, 68 wide-body and 11 cargo aircraft, said THY in a statement in January.

THY (consolidated) Financials
(mn TRY) end-14 end-Q1 ∆
Total Assets 31,875.61 37,406.77 17.4%
Total Sharholders' Equity 9,154.40 10,923.89 19.3%
Paid-in Capital 1,380.00 1,380.00 0.0%
  Q1-14 Q1-15  (y/y)
Revenues 5,127.53 5,456.50 6.4%
Gross Margin 510.86 661.69 29.5%
Operating Income -182.5 -48.3 -73.6%
Net Income -226.3 373.3 -
source: kap      
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