Turkish Airlines has reported a US$2,4 billion (R43,9 billion) nett profit for 2024 in a challenging aviation industry hit by geopolitical and global tensions, aircraft production delays and engine issues.
The Turkish flag carrier achieved this positive result on a total revenue of US$22,7 billion (R414 billion), up 8,2% compared with 2023, for a 10,5% nett profit margin. The airline’s passenger revenue increased by only four percent, due to intensifying competition.
Earnings Before Interest, Tax, Depreciation, Amortisation, and Rent totalled $5,7 billion (R104 billion) with a margin of 25,3%.
Turkish carried 85,2 million passengers in 2024, as the airline increased its capacity by 8,2% and expanded its fleet by 12%, to 492 aircraft. The carrier plans to nearly double its fleet to more than 800 aircraft within a decade.
The airline expanded into a new continent with the addition of Melbourne and Sydney routes to its network, and also launched flights to Santiago, Chile, increasing its served countries to 131 and total international destinations to 299.
