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25-Mar-2011 12:37 PM

Turkish Airlines reports second consecutive decline in profits in 2010

Turkish Airlines revenue up 29% – financial* highlights for the 12 months ended 31-Dec-2010:

  • Revenue: EUR4236 million, +29% year-on-year;
  • Total operating costs: EUR4004 million, +37%;
    • Fuel: EUR1093 million, +54%;
    • Labour: EUR887 million, +35%;
  • Operating profit: EUR232 million, -34.6%;
  • EBITDA: EUR462 million, -19.1%;
  • Net profit: EUR144 million, -44.6%;
  • Total assets: EUR5197 million, +31.0%;
  • Cash and cash equivalents: EUR397 million, -21.4%;
  • Total liabilities: EUR3368 million, +42.0%;
  • Passenger numbers, +15.9%;
    •  
      • Sun Express: 6.7 million;
    • Domestic: 13.6 million, +16%;
    • International: 15.5 million, +16%;
  • Passenger load factor: 73.7%, +2.8 ppts;
    •  
      • Sun Express: 77.4%;
    • Domestic: 76.6%, +1.2 ppt;
    • International: 73.1%, +3.0 ppts;
  • Revenue per ASK: +13%;
  • Operating cost per ASK: EUR 6.15 cents, +19%;
  • Operating cost per ASK excl fuel: EUR 4.47 cents, +15%. [more]

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