Turkish Airlines 635 million USD Net Profit in Q2 of 2023

Turkish Airlines finished the second quarter of the year with 635 million USD Net Profit with strong recovery on international demand.

Image: Turkish Airlines

In the second quarter, its incorporation’s total revenue reached to 5.1 billion USD increasing by 13.5% compared to the same period last year. Due to decelerating global trade and earthquake impact, its cargo revenues decreased by 44% year-over-year to 600 million USD, %53 higher than the 2019 level.

While global international airline capacity in the second quarter of 2023 was 12% below that of 2019 according to data published by airline data provider OAG, Turkish Airlines was among one of the few airlines in the industry to exceed its 2019 international capacity by 29%. As Europe’s leading network carrier in terms of daily number of flights operated for the last three years according to the European Organization for the Safety of Air Navigation (EUROCONTROL), Turkish Airlines maintained its status in the second quarter of 2023 as well.

With one of the youngest and most modern fleet of 419 aircraft, Turkish Airlines increased its fleet size by 10% compared to the same period of last year. In the second quarter of 2023, the airline carried over 21 million passengers in total, with a domestic load factor of 81.5% and an international load factor of 81.8%.

Undertaking over one hundred operational optimization projects to reduce its carbon footprint since 2008, Turkish Airlines was awarded the title of “Most Sustainable Flag Carrier Airline” once again by World Finance as a result of the sustainability focused initiatives in line with its commitment to become a “Carbon-Neutral Airline by 2050.”