Turkish Airlines records 118% increase in fuel costs since beginning of 2026
Turkish Airlines reported (03-Nov-2026) jet fuel costs increased by 118% since the beginning of 2026. CFO Metin Gülşen said fuel costs per available seat kilometre could increase more than 80% year-on-year in 4Q2026 at current market prices. Non fuel unit costs are expected to rise by a mid to high single digit percentage. [more - original PR] [more - Aviation Week]
Background ✨
Turkish Airlines chairman Murat Şeker said geopolitical uncertainty in the Middle East and fuel-price volatility significantly affected the operating environment in 2Q2026, with selective growth, higher passenger and cargo unit revenues and efficiency studies partly offsetting fuel-cost pressure1. Turkish Airlines attributed a 41% fall in EBITDAR in 2Q2026 to rising fuel expenses2. Mr Şeker said the base case implied a USD3.5 billion 2026 cost burden and noted fuel-surcharge adjustments across more than 150 destinations plus ancillary price rises generated about USD100 million additional revenue3. Turkish Airlines hedged 38% of 2026 fuel use and five percent for 20274.