Turkish Airlines reports losses for first nine months
Turkish Airlines reported a net loss of $463 million for the first nine months of the year compared to a net profit of $877 million a year ago.
In a statement the Turkish flag carrier blamed political and economic instability in Europe and Middle East as well as the increased perception of global and regional risks which caused negative impact on aviation demand and placed pressure on yields. Moreover, increased capacity, led by low fuel prices and increased competition, also affected ticket prices and total revenue.
Only Africa and the USA maintained revenue levels for both passenger and cargo traffic
During the nine-month period, the carrier transported 48.3 million passengers, up 4%, on 357,000 flights. ASKs increased 14%; RPKs were up 8.2% and load factor was down to 74.5% from 79% last year.