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. 

An airline’s load factor is the percentage of a carrier’s airplanes that are full of passengers. In the second quarter, Turkish Airlines carried more than 21 million passengers, with a domestic load factor of 81.5% and an international load factor of 81.8%.

The 2020 pandemic saw governments around the world impose travel bans to contain the spread of the coronavirus. Many flights were cancelled and travel was decimated. Global airlines lost nearly $170 billion in 2020 and the industry as a whole still is not making a net profit.

Turkish Airlines, meanwhile, managed to make $2.7 billion in profit in 2022. The airline carried 22% more passengers between January and July 2023 (47.3 million) compared to the same period last year. The airline carried 9% more passengers in July 2023 than the same month the previous year.

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During the first half of the year, the airline entered into several codeshare agreements — in which airlines sell seats on each other’s flights — with Asian airlines including IndiGo and Vietnam Airlines.

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Devender was born in the year when the Beatles Group was formed. He holds two master’s degrees in English Literature and Public Administration. He also has an Honors degree in English Literature and a post-graduate diploma in Corporate Communications and Public Relations. He was closely associated with the Indian State Transport Undertakings and Ministry of Transport in his role as Corporate Communications and PR specialist for over two decades handling domestic and international organizations. He ventured into business forming his own Media House, Profiles Media Network Private Limited which is now a twenty years old company. Excelling as an editor, Marketing, PR, Anchor, and Advertising specialist, he is now expertly navigating the world of social media. A widely traveled professional internationally, Devender has a deep understanding of the Air Cargo, Cargo Business, Cargo Airports, Freighters and Cargo Industry at large.