Türkiye's national carrier Turkish Airlines (THY) carried slightly over 65 million passengers in the first nine months of this year, up 1.8% compared to the same period last year, the company said on Monday while announcing the financial results.
The number of passengers that flew with Turkish Airlines rose to 65.07 million from 63.9 million in January-September of 2023, the company announced.
Moreover, the company posted $2.71 billion in net profit between January and the end of September, it said, marking a 3% drop compared to the first nine months of 2023.
Net revenues, meanwhile, surged by 7.8% on an annual basis from $15.8 billion to approximately $17.1 billion, the data revealed. Earnings before interest, taxes, depreciation, amortization and rent (EBITDAR) were slightly down to $4.48 billion in the same period.
"Despite ongoing global geopolitical tensions, bottlenecks in aircraft production and engine problems, Turkish Airlines, which continues its operations uninterruptedly thanks to its operational agility and wide flight network, continued to grow in the third quarter of 2024," the THY said.
The carrier also reported its fleet now numbered 467 aircraft, compared to 429 last year, a 9% increase. This comes following a large Airbus order at the end of last year, although the company was in talks with Boeing as well as it looks to further expand its fleet.
The passenger occupancy rate in the first nine months edged down to 82.3% versus 83.1% a year earlier, the data showed.
The company, on the other hand, posted a 26.5% increase year-over-year in the volume of cargo and mail transferred.
It also cited that according to the International Air Transport Association's (IATA) September data, it became the world’s third-largest air cargo carrier with a 5.7% market share.
Turkish Airlines shares were trading slightly up on Tuesday morning, following financial results.
