Turkish Airlines: Public Disclosures - 2016 Guidance Revision
19-Aug-2016 According to the 2016 revised budget that was approved by the Board of Directors, the guidance regarding the Incorporation's targets and expectations for the year 2016 is as follows:
Traffic Development
• Total number of passengers carried is targeted to reach 63,4 million including 27,9 million on schedules domestic routes, 34,5 million on scheduled international routes, and the rest on charter and hajj flights.
• While passenger load factor is expected to be 72-74%, total Available Seat Kilometers (ASK) will reach to 174 billion with an increase of 13% compared 2015. Capacity (ASK) increase is expected to be 9% in Turkey, 26% in America region, 23% in Africa region, 10% in Far East region, 4% in Europe region and 22% in Middle East region.
• In 2016, cargo/mail carried will increase by 13% reaching 817 thousand tonnes.
Financial Development
• In 2016, the Incorporation's fuel consumption is expected to increase by 12% compared to 2015.
• Under the assumptions of average 1,11 for EUR/USD, average 3,00 USD/TRY and average jet fuel (inc. Hedge) 577$/ton, the Incorporation is targeting to generate around 9,5 Billion USD of sales revenue.
• Targeted CASK decrease is between 5-7%
• Targeted EBITDAR margin range is between 12-14%