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17-Oct-2013 8:42 AM

Turkey’s aviation market: healthy growth to continue at one of the world’s oldest cross-roads

Analysis

News that Nordic Office of Architecture has been awarded the right to design Istanbul's new airport, following recent reports that construction may start in May-2014, refocuses attention on Europe's fastest growing aviation market.

Ultra-LCC Pegasus Airlines and network carrier Turkish Airlines were, in 2012, respectively Europe's second and fourth most profitable airlines (based on 2012 operating margin).

Air passenger numbers in Turkey have grown at double digit rates in five out of the past six years. The success of Turkey's aviation sector has been built on healthy economic growth, a relatively productive and inexpensive workforce and Turkish Airlines' use of its Istanbul hub to attract international transfer traffic.

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