Turkish Cargo posts cargo tonnage and revenue surge

posted on 8th November 2018 by Justin Burns
Turkish Cargo posts cargo tonnage and revenue surge

Turkish Cargo carried more than one million tonnes of cargo in the first nine months of 2018 – a year-on-year (YOY) increase of 25 per cent on the same period of the previous year, while cargo revenue surged 29 per cent and reached $1.2 billion.

Sister carrier Turkish Airlines posted record profit from operations of $1.14 billion in the first nine months of 2018 despite increasing fuel prices. Total sales revenue across all operations from January-September increased YOY by 20 per cent on the same period of 2017 to $9.9 billion.

Net profit for the period was $755 million and EBITDAR (earnings before interest, taxes, depreciation, amortization and rent), increased YOY by 16 per cent to $2.8 billion.

The airline’s chairman of the board and the executive committee, İlker Aycı said in the third quarter a “great emphasis” was put on strengthening and improving the infrastructure conditions the carrier has.

He added: “Despite the various regional and sectoral conditions that we have encountered especially in last few years, the persevering attitude we displayed has been the source of our steady rise.

“Today, with our significant investments, impressive growth figures and numerous successes we achieved, we continue to strengthen our prestigious position in the global aviation industry.

“As being one of the primary prides of our country, we are sure that this momentum will continue increasingly after moving to our new home, Istanbul Airport, as well.”

Turkish operates to 304 destinations in 122 countries, and has added routes this year to Freetown, Samarkand, Krasnodar and Moroni. Its fleet comprises of 329 aircraft, including 217 narrowbody aircraft, 92 widebody aircraft and 20 freighters, and it is aiming to reach 475 aircraft by 2023.

Late last month, Turkish started moving into its new home at Istanbul Airport and is set to move all operations from Istanbul Ataturk Airport by the start of 2019.