SINGAPORE, 7 March 2023: Turkish Airlines closed 2022 with USD2.7 billion net profit standing out from its competition thanks to its operational agility, wide flight network and highly skilled workforce it maintained during the pandemic.
It marks its sixth quarter, declaring a net profit despite the difficult operating environment that has persisted since 2020.
Total revenue in 2022 stood at USD18.4 billion, surpassing 2019 by 39%, a record high. Constituting 20% of total income, cargo earnings at USD3.7 billion increased by 120% compared to the same period in 2019.
Turkish Airlines chairman of the board and executive committee, Ahmet Bolat, stated: ” With the responsibility and awareness of being the flag carrier, we stand with our nation just as we did during previous crises. In the aftermath of the earthquakes centred in Kahramanmaraş on 6 February, we utilised our resources to operate over 2,400 flights to transport 433,000 (personnel working in) search and rescue teams and 16 thousand tons of aid materials to the region while evacuating 430,000 people to date.
Turkish Airlines carried around 72 million passengers recording load factors of 85.8% for domestic and 80.1% for international routes. Despite global inflationary pressures, the flag carrier lowered its unit expenses, excluding fuel, by 2% compared to 2019. As a result, EBITAR (earnings before interest, taxes, amortisation and rent) demonstrates the company’s cash generation potential realised USD5.4 billion.
