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Turkish Airlines revenue up 27% but falls into the red in 1Q2011

16-May-2011 1:36 PM

Turkish Airlines revenue up 27% - financial highlights for the three months ended 31-Mar-2011:

  • Revenue: EUR1655 million, +27.2% year-on-year;
  • Cost of sales: EUR1428 million, +39.2%;
  • Operating profit (loss): (EUR119.9 million), compared with a profit of EUR32.6 million in p-c-p;
  • Net profit (loss): (EUR148.1 million), compared with a profit of EUR53.3 million in p-c-p;
  • Total assets: EUR5400 million, +13.7% when compared with the period ended 31-Dec-2010;
  • Cash and cash equivalents: EUR402.2 million, +10.9% when compared with the period ended 31-Dec-2010;
  • Total liabilities: EUR3853 million, +25.2% when compared with the period ended 31-Dec-2010. [more]

* Based on the conversion rate EUR1 = TRY2.24322