Turkish Airlines 1H2010 operating profit down 34% as 2Q2010 misses expectations

Turkish Airlines revenue up 28% - preliminary financial highlights for the six months ended 30-Jun-2010:

• Sales revenue: EUR1,800 million, +28% year-on-year;
• Costs:
  • Fuel: n/a, +74%;
• Operating profit: EUR55 million, -34%;
• Net profit: EUR134 million, +181%;
• Passenger numbers: 13.4 million, +19.3%;
• Passenger load factor: 72.1%, +4.1 ppts;
• Cargo volume: 152,000 tons, +49.6%. [more]

Turkish Airlines: "Globally, the aviation industry started recovering in 2010, if another unexpected economical stagnation does not happen, recovery is expected to continue. Hence, positive expectations will contribute in the growth of Turkish Airlines as well as better financial results in the future," Company statement. Source: Turkish Airlines, 23-Aug-2010.