Saturday, July 20, 2024
Turkish Airlines profits up but cargo revenue falls

Turkish Airlines profits up but cargo revenue falls

Turkish Airlines has seen cargo revenue fall despite tonnage increasing and profits breaking the $1 billion barrier.

Total cargo revenue fell from $973 million in 2014 to $935 million in 2015, despite cargo and mail carried increasing by 8.7 per cent to 720,440 tonnes. Cargo carried on passenger aircraft fell from $554 million to $540 million and freighter revenue was down from $419 million to $395 million.

Turkish Airlines chairman of the board and the executive committee, Ilker Ayci says: “It has been a challenging year with fierce competition in the global aviation industry, combined with political and economic instabilities and significant currency fluctuations.”

Revenue for the airline fell from $11 billion in 2014 to $10.5 billion in 2015 though profit increased from $845 million to over $1 billion.

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