$153m profit for Turkish Airlines

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Turkish Airlines recorded a net profit of $153 million in the first quarter (Q1) of 2015, compared to the Q1 net loss of $86 million in 2014.

The airline saw sales revenue decrease by four per cent to $2.2 billion on Q1 last year, producing an adjusted operating loss of $18 million, outperforming the first quarter of 2014 by 77 per cent. Turkish Airlines explains: “Active risk management strategies and a balanced debt composition had an impact on these outstanding results.” The airline adds it has continued its, “sustainable growth,” despite the difficult operating conditions due to fuel prices and currency fluctuations. In 2014, Turkish Airlines increased sales revenue by 13 per cent compared to 2013, reaching $11 billion. Operating profit for the year was $638 million, more than doubling the previous year’s total.

The airline’s net profit in 2014 was $845 million. Turkish Airlines took delivery of its 125th Boeing aircraft on Tuesday 12 May, when it received a Boeing 737-900 extended range. The carrier says it will take delivery of seven more Boeing 777 and five Boeing 737 in 2015. This year, the airline is targeting an increase in its capacity by 15 per cent. It now operates 274 aircraft, which includes 62 widebody, 202 narrowbody, and 10 freighters. By the end of 2015, its fleet is set to reach 293, with 68 widebody, 214 narrowbody, and 11 freighters.

Turkish Airlines announced on Wednesday 13 May a 12th route to the Americas, to Miami (US). It will start the service from 25 October and operate it seven times a week in both directions. 

The airline says it is planning to add two domestic and seven international destinations to its network in 2015, bringing the total number of routes to 273.