Turkish Airlines post record 665 percent profit

  Date posted: 19th of November 2012

Turkey national airline has posted a profit of 868 million Turkish Liras for the first 9 months of 2012, up a staggering 665 percent over the same period of 2011.

Data released by Turkish Airlines (THY) to the Istanbul Stock Exchange show that sales have also increased 30 percent to 11.2 billion Liras in the period.

The figures show that 29 million passengers flew with THY in the first 9 months of 2012, meaning the carrier is on course to come close to 40 million passengers for the year.

Earlier this year, THY launched its 200th plane and is currently waiting on 35 extra planes from Airbus and Boeing to meet demand of passengers in coming years. This comes on the back of 21 new foreign destinations that THY now fly to, bringing the total number of destinations by Turkish Airlines to 170 abroad, across 70 different countries.

Turkish Airlines is rapidly growing to become one of the premier airlines in Europe and the world. At a time when competitors are fighting against a slump in revenues and sales due to the world economic situation, Turkish Airlines is ever increasing and adding new routes and airplanes to its impressive fleet. There have also been rumours of Lufthansa and Turkish Airlines merging to create the biggest air carrier in Europe, although it is expected that the two airlines will settle on further cooperation in other future joint ventures.