Turkish Airlines revenue up 27% but falls into the red in 1Q2011

Turkish Airlines revenue up 27% - financial highlights for the three months ended 31-Mar-2011:

• Revenue: EUR1655 million, +27.2% year-on-year;
• Cost of sales: EUR1428 million, +39.2%;
• Operating profit (loss): (EUR119.9 million), compared with a profit of EUR32.6 million in p-c-p;
• Net profit (loss): (EUR148.1 million), compared with a profit of EUR53.3 million in p-c-p;
• Total assets: EUR5400 million, +13.7% when compared with the period ended 31-Dec-2010;
• Cash and cash equivalents: EUR402.2 million, +10.9% when compared with the period ended 31-Dec-2010;
• Total liabilities: EUR3853 million, +25.2% when compared with the period ended 31-Dec-2010. [more]

* Based on the conversion rate EUR1 = TRY2.24322