Turkish Airlines back to black, but cargo revenues falter

Turkish Airlines returned to the black in the first quarter of 2015, but its cargo division recorded declines in revenues.
The Turkish flag carrier recorded overall profits of $153m during the first quarter of the year, compared with a loss of $102m during the same period last year.
Meanwhile, revenues declined by 4% year on year to $2.2bn on the back of the strength of the US dollar compared with the euro.
The airline provided little commentary on the reason for the improvement in profit, stating only that “active risk management strategies and a balanced debt composition” had an impact.
The company also benefited from reduce fuel costs during the period, which dropped by $167m on last year to $720m.
Turning to the performance of its cargo division, the airline saw first-quarter cargo revenue decline to $224m from $229m a year earlier. The decline was down to its freighter services, which slipped compared to last year, while bellyhold cargo revenue increased.
Last year, the airline’s cargo division recorded a revenue surge.

Share this story

Related Topics

Latest airlines news

American Airlines’ new head of cargo outlines key priorities

By Damian Brett

It’s been six weeks since Greg Schwendinger took up the role of president of American Airlines Cargo when Air Cargo…

Read More

Share this story

Forwarders stick with short-term deals as air cargo volumes fall

By Damian Brett

Freight forwarders are continuing to opt for short-term airfreight deals as volumes and rates continue to decline. The latest statistics…

Read More

Share this story

IATA predicts 4% drop in air cargo volumes next year

By Damian Brett

Air cargo traffic is predicted to drop by a further 4% next year, while yields and revenues are also expected…

Read More

Share this story