TURKISH Airlines'2009 consolidated financial results have been reported to Istanbul Stock Exchange.
According to the statement, the Turkish national carrier’s 2009 net profit stood at TL559 million ($372 million), marking a 51 per cent decrease from 2008’s net profit, with an operating profit increase of 12 per cent, to TL832 million. Sales revenue increased by 15 per cent to TL7 billion.
Approximately 79 per cent of scheduled service revenue was obtained from international lines, and 21 per cent from domestic lines. By the end of 2009, the number of planes in the Turkish Airlines fleet had increased by four per cent, reaching 132 aircraft, compared to 127 at the beginning of the year. Parallel to the 22 per cent increase in Available Seat Kilometres (ASK), the number of passengers increased by 11 per cent, to 25,099,000, and cargo and mail carried increased by 20 per cent. As a result of this capacity increase, passenger load factor declined by 3.1 percentage points from the previous year, to 70.9 per cent.
In line with Turkish Airlines'2008 - 2023 fleet projection, of 105 aircraft to be purchased, the carrier has placed a firm order for 22 wide-body, 40 narrow-body and two wide-body cargo aircraft - a total of 64 aircraft deliveries are expected by the end of 2014.
In light of the global financial crisis which reached its peak in 2009, the sector as a whole witnessed a reduction in capacity. However, Turkish Airlines continued to enjoy operational and financial growth - a path the airliner plans to continue on.