- Passenger numbers: 11.1 million, +18.7% year-on-year;
- Passenger load factor: 73.9%, +5.7 ppts;
- Cargo volume: 146,333 tonnes, +22.2%. [more – original PR]
Turkish Airlines pax numbers up 18.7% for 4 months to Apr-2012, cargo up
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Turkish Airlines: unprecedented loss provokes slowdown in expansion and int'l transfer strategy
Since adopting its strategy of rapid growth, driven by capturing global connecting traffic flows via its Istanbul Ataturk hub, Turkish Airlines (THY) has expanded its capacity in ASKs at double digit rates for 13 consecutive years. However, in 2016 it plans ASK growth of only approximately 3%, with cuts in the winter 2016/2017 season. Moreover, its long haul capacity will be almost flat in 2017, and it seems probable that it will not repeat its habitual increase in the number of passengers transferring between international flights this year.
The prompt for this unprecedented change in THY's growth path was a slump into loss in 2016, also unprecedented – at least, since the airline adopted its connecting strategy in 2004. This loss was itself the result of a slump in demand for air travel to/from Turkey, coupled with overexpansion. The consequent slide in unit revenue could not be mitigated by a matching cut in unit cost, in spite of lower fuel prices.
Recent management changes at THY raise the possibility of a new approach, but the airline cannot hide its pride over its history of growth and market share gains. It will need to balance this against the imperative to restore profitability.
Ryanair's 117million pax in 2016 tops European airline groups. The first time an LCC topped rankings
For the first time ever in Europe, in 2016 a low cost airline carried more passengers than any other airline or airline group, as Ryanair's 117 million passengers pushed Lufthansa Group's 110 million into second place. Ryanair had beaten Lufthansa itself, but not the whole Lufthansa Group. IAG's first full year of including Aer Lingus helped it to take third place from Air France-KLM. Europe's number two LCC, easyJet, was ranked fifth.
The big five can be expanded into a big seven to include Turkish Airlines and the Aeroflot Group, although these two had contrasting growth rates in 2016. A chasing pack of middle sized airline groups includes three LCCs (Norwegian, Pegasus and Wizz Air) and three legacy airlines with varying challenges to establishing sustainable profitability (SAS, Air Berlin Group and Alitalia).
Most of the faster growing airline groups in the top 20 are LCCs and the main growth drivers for Europe's big three legacy groups are their LCC subsidiaries. Just outside the top 20 are some fast growing legacy airlines in Eastern Europe, demonstrating the potential there. Nevertheless, unless there is a big merger or acquisition, Ryanair looks set to remain at number one for some time.