Turkish Airlines reports USD220m EBIT loss in 1Q2016

Turkish Airlines revenue down 1% - financial highlights for three months ended 31-Mar-2016:

• Revenue: USD2188 million, -1.4% year-on-year;
• • Passenger: USD1931 million, -0.5%;
  • Cargo: USD211 million, -6%;
• Costs: USD2468 million, +9.5%;
• • Fuel: USD604 million, -11.8%;
  • Labour: USD493 million, +19.7%;
• EBIT (loss): (USD220 million), compared to a profit of USD15 million in p-c-p;
• Net profit (loss): (USD421 million), compared to a profit of USD153 million in p-c-p;
• Passenger numbers: 14.2 million, +10.3%;
• Load factor: 74.0%, -2.9 ppts;
• Passenger yield: USD 6.54 cents, -12.7%;
• Revenue per ASK: USD 4.72 cents, -18.6%;
• Cost per ASK: USD 6.29 cents, -8.0%;
• Total assets: USD17,062 million;
• Cash and cash equivalents: USD1102 million;
• Total liabilities: USD12,582 million. [more - original PR]