Turkish Airlines net profit tops $1.5B in 3rd quarter

By Tuba Sahin

ANKARA (AA) - National flag carrier Turkish Airlines generated a net profit of more than $1.5 billion in the third quarter of 2022, up 131.3% from the pre-pandemic period in 2019.

"Turkish Airlines finished the third quarter of 2022 with $1.5 billion net profit thanks to its operational agility and ability to meet the increasing demand with its highly skilled workforce and wide flight network it preserved during the pandemic," the carrier said in a statement on Wednesday.

The air carrier's total revenues rose to $6.1 billion this July-September, up 51.7% from July-September 2019.

Making up 14% of the total revenues, cargo revenues jumped 109.8% to $880 million during the same period.

The airline's earnings before interest, taxes, depreciation, amortization, and rent (EBITDAR) totaled $2.1 billion in the three months to September, up from $1.3 billion in the same quarter of 2019.

The company welcomed 23 million passengers in the third quarter of this year with a load factor of 91.4% on domestic flights and 85.3% on international flights.

Turkish Airlines boasts a fleet of 390 aircraft – 260 narrow-body and 109 wide-body – along with 21 cargo aircraft, according to September figures. ​​​​​​​