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;
  • Sun Express: EUR167 million;
  • Air Bosnia: 16 million;
• 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]