Turkish Airlines posts $635m Q2 profit, capacity exceeds pre-COVID levels
While global airlines lost nearly $170 billion to the 2020 pandemic and the industry as a whole still is not making a net profit, Turkish Airlines managed to make $2.7 billion in profit in 2022.
Turkish Airlines has posted a second-quarter net profit of $635 million, citing strong international demand. The airline also reported a 28% higher passenger capacity than in 2019, before the COVID-19 pandemic.
In the second quarter of the year, company revenue reached $5.1 billion, a 13.5% increase compared to the corresponding period last year.
The airline’s freight revenues decreased by 44% year-on-year to $600 million due to decelerating global trade and the impact of the Turkish earthquakes, the company said. This figure was still 53% higher than the 2019 level.
Although most airlines have not recovered to their pre-pandemic passenger capacities, Turkish Airlines has been one the few carriers to do so.
