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Turkish Airlines losses narrow in 1Q2012

22-May-2012 2:30 PM

Turkish Airlines revenue up 19% - financial highlights for three months ended 31-Mar-2012:

  • Operating revenue: USD1588 million, +19% year-on-year;
  • Operating costs: USD1711 million, +12%;
    • Fuel: USD611 million, +1%;
    • Labour: USD336 million, +2%;
  • EBIT (loss): (USD122 million), compared to a loss of USD195 million in p-c-p;
  • EBITDA (loss): (USD4 million), compared to a loss of USD94 million in p-c-p;
  • Net profit (loss): (USD16 million), compared to a loss of USD140 million in p-c-p;
  • Passenger numbers:
  • Load factor:
    • Turkish Airlines: 72.7%, +5.5 ppts;
    • Sun Express: 75.7%;
  • Cargo volume: 109,105 tons, +26%;
  • Cost per ASK: USD 8.30 cents, -6%;
  • Cost per ASK excl fuel: USD 5.33 cents, -13%;
  • Total assets: USD9147 million, +5% when compared to period ended 31-Dec-2011;
  • Cash and cash equivalents: USD535 million, -35% when compared to period ended 31-Dec-2011;
  • Total liabilities: USD6745 million, +7% when compared to period ended 31-Dec-2011. [more – original PR]