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Turkish Airlines reports revenue up, sharp profit decline as fuel costs rise 84% in 2011

18-Apr-2012 3:35 PM

Turkish Airlines revenue up 40% - financial highlights for 12 months ended 31-Dec-2011:

  • Sales revenue: TRY11,815 million (EUR5066 million), +40% year-on-year;
    • Passenger: TRY10,259 million (EUR4399 million), stable;
    • Cargo: TRY966.1 million (EUR414.3 million), +54%;
  • Cost of sales: TRY9788 million (EUR4197 million), +47%;
    • Fuel: TRY3984 million (EUR1708 million), +84%;
    • Labour: TRY1641 million (EUR703.6 million), +26%;
  • Operating profit: TRY101.1 million (EUR43.3 million), -79%;
  • Net profit: TRY18.5 million (EUR7.9 million), -94%;
  • Total assets: TRY16,405 million (EUR7034 million), +54%;
  • Cash and cash equivalents: TRY1550 million (EUR664.4 million), +90%;
  • Total liabilities: TRY11,906 million (EUR5105 million), +73%. [more – original PR]

*Based on the average conversion rate at EUR1 = TRY2.3321 for the period