Turk Hava Yollari AO
IST:THYAO.E

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Turk Hava Yollari AO
IST:THYAO.E
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Price: 273 TRY -1.18% Market Closed
Market Cap: 376.7B TRY

Turk Hava Yollari AO
Investor Relations

Turk Hava Yollari AO, commonly known as Turkish Airlines, stands as a testament to strategic growth and operational excellence in the rapidly evolving airline industry. Originating from the crossroads of civilization in Istanbul, the airline has leveraged its unique geographical positioning to become a global powerhouse. From its modest beginnings, Turkish Airlines has meticulously crafted a vast network that connects an impressive number of destinations across numerous countries. This widespread connectivity is strategically managed through its hub at Istanbul Airport, which serves as a pivotal bridge between Europe, Asia, Africa, and beyond. The airline's business model thrives on capturing both transit traffic from Asia to Europe and point-to-point travel, effectively utilizing its fleet to cater to international travelers, as well as serving domestic routes with equal efficiency.

The financial engine propelling Turkish Airlines lies in its diverse revenue streams, primarily driven by passenger and cargo services. As an airline operating in a country that forms a natural crossroad for many international routes, it capitalizes on a significant volume of transit passengers. Additionally, the airline's commitment to expanding its cargo operations aligns smoothly with global logistics trends, thereby fortifying its income. The company's dedication to balancing cost management with quality service delivery enhances its competitive edge, ensuring customer loyalty and sustained profitability. Through strategic partnerships and alliances, such as its membership in the Star Alliance network, Turkish Airlines effectively broadens its reach and appeal in the global aviation market, allowing it to maintain robust growth trajectories in passenger and freight markets while navigating the challenges posed by fluctuating fuel prices and economic uncertainties.

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Last Earnings Call
Fiscal Period
Q3 2025
Call Date
Nov 7, 2025
AI Summary
Q3 2025

Revenue Growth: Turkish Airlines' Q3 revenue rose 5% year-on-year to nearly $7 billion, with passenger revenue up 6% but cargo revenue down 7%.

Profit Margins: Profitability declined due to higher jet crack spreads, wage inflation, and softer yields. EBITDAR was almost $2.1 billion with a margin of 29.6%, and net income was close to $1.4 billion.

Capacity Expansion: The airline grew passenger capacity by 8% year-on-year, carrying a record 27 million passengers in the quarter, with strong demand in Asia and Africa.

Guidance Update: Revenue growth guidance for 2025 was lowered by 1 percentage point to a range of 5% to 6%, but EBITDA margin guidance was maintained at 22% to 24%.

Fleet Investment: Major fleet orders include 50 firm plus 25 option Boeing 787s and 150 Boeing 737 MAX aircraft, with deliveries scheduled through 2034. Year-end 2025 fleet is expected to reach 525–530 aircraft.

Operational Challenges: GTF engine issues continue to ground around 40 of 100 neo aircraft, and net debt and leverage increased due to new aircraft and currency effects.

Strong Premium Demand: Premium segment revenue yield growth outpaced economy by 11 percentage points, and premium class load factors hit record levels.

Key Financials
Revenue
$7B
Cargo Revenue
$850M
EBITDAR
$2.1B
EBITDAR Margin
29.6%
Net Income
$1.4B
Load Factor
85.6%
Passengers Carried
27M
Capacity Growth
8%
Free Cash Flow
$350M
Liquidity
$7.9B
Leverage
1.4x
AJet Passengers (Q3)
7M
AJet Fleet (Q3)
80 aircraft
12-month Community Free Cash Flow
$1.6B
Direct Sales Share
over 80%
Other Earnings Calls

Management

Mr. Bilal Eksi
CEO, President & Executive Director
No Bio Available
Dr. Murat Seker Ph.D.
CFO & Executive Director
No Bio Available
Mr. Mehmet Akif Konar
Chief Operational Officer
No Bio Available
Levent Konukcu
Chief Investment & Strategy Officer
No Bio Available
Dr. Zekeriya Demir
Senior Vice President of Accounting & Financial Control
No Bio Available
Mr. Mehmet Fatih Korkmaz
Head of Investor Relations
No Bio Available
Mr. Abdulkerim Çay
Chief Human Resources Officer
No Bio Available
Prof. Mecit Es
Non-Executive Director
No Bio Available
Mr. Ahmet Olmustur
Chief Commercial Officer
No Bio Available
Mr. Ramazan Sari
Senior VP of General Aviation (VIP Aircraft) Operations & Director
No Bio Available

Contacts

Address
Istanbul
Turk Hava Yollari Genel Yonetim Binasi,Yesilkoy Mahallesi, Havaalani Cad. No:3/1 BAKIRKOY
Contacts