Turkish Airlines revises 2019 guidance, lowers pax and revenue expectation, cargo growth up

Turkish Airlines released (05-Sep-2019) the following revised guidance regarding consolidated traffic and financial targets for 2019, following approval by the board:

• Traffic:
  • Passengers: 76 million (80 million according to Jan-2019 guidance);
    • Domestic: 31 million (previously 33 million);
    • International: 45 million (previously 47 million);
  • Passenger load factor: Between 81% and 82% (unchanged);
  • ASKs: Increase of 4% year-on-year (previously 7% to 8%);
  • Cargo: 1.5 million tonnes, increase of 7% (previously 1.45 million tonnes, increase of 3% to 4%);
• Financial:
  • Revenue: USD13.4 billion (previously USD14.1 billion);
  • Jet fuel consumption: Increase of 6% (previously 8% to 9%);
  • Average jet fuel price with fuel hedge: USD690 per ton (previously USD715 per ton);
  • EBITDAR: Between 22% and 23% (previously between 22% and 24%);
  • CASK excluding fuel: Increase of 7% to 9% (previously increase of 3% to 5%). [more - original PR]