Cash Flow Statement

Operating Cash Flow

-28%

+1 006%

10Y

Currency: USD

	Jun-2004	Sep-2004	Dec-2004	Mar-2005	Jun-2005	Sep-2005	Dec-2005	Mar-2006	Jun-2006	Sep-2006	Dec-2006	Mar-2007	Jun-2007	Sep-2007	Dec-2007	Mar-2008	Jun-2008	Sep-2008	Dec-2008	Mar-2009	Jun-2009	Sep-2009	Dec-2009	Mar-2010	Jun-2010	Sep-2010	Dec-2010	Mar-2011	Jun-2011	Sep-2011	Dec-2011	Mar-2012	Jun-2012	Sep-2012	Dec-2012	Mar-2013	Jun-2013	Sep-2013	Dec-2013	Mar-2014	Jun-2014	Sep-2014	Dec-2014	Mar-2015	Jun-2015	Sep-2015	Dec-2015	Mar-2016	Jun-2016	Sep-2016	Dec-2016	Mar-2017	Jun-2017	Sep-2017	Dec-2017	Mar-2018	Jun-2018	Sep-2018	Dec-2018	Mar-2019	Jun-2019	Sep-2019	Dec-2019	Mar-2020	Jun-2020	Sep-2020	Dec-2020	Mar-2021	Jun-2021	Sep-2021	Dec-2021	Mar-2022	Jun-2022	Sep-2022	Dec-2022	Mar-2023	Jun-2023	Sep-2023	Dec-2023	Mar-2024	Jun-2024	Sep-2024	Dec-2024	Mar-2025	Jun-2025	Sep-2025	Dec-2025
Operating Cash Flow
Net Income	260	375	77	154	71	89	135	(11)	187	114	132	307	144	202	285	468	451	742	1 001	953	879	746	475	414	540	289	243	(67)	(240)	181	87	71	464	569	770	977	809	737	359	272	319	475	845	1 100	1 163	999	1 069	496	16	(271)	(77)	(30)	136	649	223	510	698	715	753	610	509	450	788	690	337	(450)	(836)	(448)	(183)	684	959	1 059	1 697	2 477	2 725	2 797	2 856	3 261	6 021	6 014	6 322	5 945	3 425	3 155	2 903	2 738	2 908
Depreciation & Amortization	223	273	211	207	211	217	222	232	226	229	235	234	252	264	280	286	298	302	219	207	178	169	300	322	337	347	305	327	397	445	484	502	488	490	573	619	652	690	651	662	689	716	743	772	809	852	924	991	1 055	1 114	1 148	1 135	1 099	1 058	1 066	1 078	1 095	1 115	1 087	1 178	1 287	1 403	1 521	1 572	1 598	1 624	1 659	1 668	1 693	1 718	1 740	1 767	1 792	1 828	1 864	1 914	1 959	1 949	2 035	2 069	2 115	2 206	2 203	2 237	2 276	2 331	2 395
Other Non-Cash Items	4	(4)	(3)	(32)	(39)	(52)	(61)	12	(64)	(31)	18	(33)	45	101	77	(44)	1	(204)	(171)	(153)	(111)	47	48	41	(6)	124	98	257	364	179	324	556	122	171	(99)	(416)	26	49	354	368	302	86	(285)	(420)	(439)	26	49	473	462	140	(300)	(411)	(218)	(42)	767	689	388	391	129	113	74	(17)	(460)	(452)	(184)	(160)	758	359	564	501	209	578	22	(234)	351	647	438	497	(2 974)	(3 583)	(3 704)	(3 473)	(1 782)	(1 493)	(846)	(1 381)	(591)
Cash Taxes Paid	56	63	51	35	0	30	10	0	10	(0)	4	7	6	30	80	93	94	85	63	69	58	60	68	48	65	81	48	64	42	22	8	(4)	11	4	14	18	15	21	0	0	(1)	(3)	0	0	3	4	4	0	5	8	11	11	4	9	9	8	(9)	39	81	113	144	71	18	(3)	(3)	3	5	1	(7)	17	18	24	14	(14)	(15)	(35)	(21)	(16)	(6)	9	5	15	27	45	99	143	137
Cash Interest Paid	44	50	34	32	35	40	44	48	50	53	56	61	62	65	68	72	74	74	79	73	75	76	75	77	86	81	58	56	62	65	100	121	106	118	126	120	147	153	143	146	145	142	153	150	142	152	121	122	114	107	119	117	122	125	204	224	237	243	220	220	238	246	247	252	249	258	241	262	287	294	318	305	291	280	318	351	362	408	388	429	419	406	384	340	335	313	306
Change in Working Capital	(107)	(105)	(57)	(21)	39	(21)	27	10	18	8	75	94	90	148	(39)	(55)	52	23	(106)	(30)	(89)	(682)	(37)	362	(54)	317	(74)	(385)	(255)	190	30	79	462	49	(109)	(1)	43	74	271	234	197	(19)	(178)	(291)	(357)	(718)	(697)	(702)	(609)	(447)	(158)	(82)	29	291	312	334	153	(270)	(512)	(483)	(338)	87	262	(275)	(633)	(800)	(1 192)	(636)	(269)	(23)	795	1 090	2 072	1 743	1 071	967	189	162	102	282	(218)	(397)	(6)	(376)	(152)	(112)	(410)
Cash from Operating Activities	380 N/A	538 +42%	228 -58%	308 +35%	282 -8%	234 -17%	324 +39%	244 -25%	368 +51%	321 -13%	461 +43%	601 +30%	532 -11%	716 +35%	602 -16%	654 +9%	802 +23%	863 +8%	943 +9%	977 +4%	857 -12%	279 -67%	786 +182%	1 138 +45%	817 -28%	1 077 +32%	572 -47%	131 -77%	266 +102%	995 +275%	924 -7%	1 208 +31%	1 536 +27%	1 279 -17%	1 135 -11%	1 179 +4%	1 529 +30%	1 551 +1%	1 635 +5%	1 536 -6%	1 507 -2%	1 258 -17%	1 125 -11%	1 161 +3%	1 176 +1%	1 159 -1%	1 345 +16%	1 258 -6%	924 -27%	536 -42%	613 +14%	612 0%	1 046 +71%	1 956 +87%	2 368 +21%	2 611 +10%	2 334 -11%	1 951 -16%	1 457 -25%	1 418 -3%	1 532 +8%	1 923 +26%	2 111 +10%	1 535 -27%	1 118 -27%	214 -81%	389 +82%	943 +142%	1 805 +91%	2 880 +60%	3 703 +29%	4 494 +21%	5 583 +24%	5 814 +4%	6 011 +3%	6 325 +5%	5 442 -14%	5 869 +8%	5 184 -12%	4 782 -8%	4 515 -6%	4 281 -5%	3 840 -10%	3 523 -8%	4 181 +19%	3 576 -14%	4 302 +20%
Investing Cash Flow
Capital Expenditures	(77)	(94)	(83)	(78)	(118)	(127)	(352)	(373)	(363)	(348)	(195)	(182)	(199)	(229)	(172)	(284)	(144)	(151)	(177)	(46)	(190)	(182)	(179)	(220)	(190)	(245)	(418)	(505)	(630)	(576)	(648)	(771)	(580)	(435)	(422)	(332)	(476)	(747)	(574)	(505)	(554)	(475)	(471)	(550)	(568)	(635)	(738)	(800)	(1 030)	(789)	(878)	(844)	(1 663)	(864)	(848)	(856)	109	(1 051)	(1 242)	(1 388)	(1 445)	(1 687)	(1 068)	(1 185)	(1 008)	(737)	(1 153)	(845)	(908)	(862)	(850)	(871)	(906)	(923)	(1 056)	(1 330)	(1 182)	(1 249)	(1 242)	(1 038)	(1 250)	(1 370)	(1 282)	(1 404)	(1 624)	(1 669)	(2 021)
Other Items	71	(147)	(238)	(345)	(397)	(187)	(62)	18	113	229	20	(3)	0	(95)	(180)	(26)	(538)	(849)	(574)	(625)	5	658	93	(707)	(684)	(1 045)	(82)	871	771	688	545	13	10	(146)	(412)	(26)	(615)	(410)	(298)	(330)	(211)	147	48	(42)	423	392	211	570	705	359	622	561	1 511	1 565	1 664	1 287	(365)	(403)	(1 161)	(918)	(775)	(218)	52	143	714	368	716	693	465	459	339	(411)	(672)	(927)	(622)	(2 144)	(2 330)	(4 447)	(4 466)	(1 948)	(1 337)	914	1 669	912	852	878	(1 649)
Cash from Investing Activities	(6) N/A	(241) -3 795%	(321) -33%	(423) -32%	(515) -22%	(314) +39%	(413) -32%	(355) +14%	(250) +30%	(119) +52%	(175) -47%	(185) -6%	(198) -7%	(323) -63%	(352) -9%	(310) +12%	(682) -120%	(1 000) -47%	(750) +25%	(671) +11%	(185) +72%	476 N/A	(87) N/A	(927) -966%	(874) +6%	(1 291) -48%	(500) +61%	366 N/A	141 -62%	111 -21%	(104) N/A	(758) -629%	(570) +25%	(581) -2%	(834) -44%	(358) +57%	(1 091) -205%	(1 157) -6%	(871) +25%	(835) +4%	(765) +8%	(328) +57%	(423) -29%	(592) -40%	(145) +76%	(243) -68%	(527) -117%	(230) +56%	(325) -41%	(430) -32%	(256) +40%	(283) -11%	(152) +46%	701 N/A	816 +16%	431 -47%	(256) N/A	(1 454) -468%	(2 403) -65%	(2 306) +4%	(2 220) +4%	(1 905) +14%	(1 016) +47%	(1 042) -3%	(294) +72%	(369) -26%	(437) -18%	(152) +65%	(443) -191%	(403) +9%	(511) -27%	(1 282) -151%	(1 578) -23%	(1 850) -17%	(1 678) +9%	(3 474) -107%	(3 512) -1%	(5 696) -62%	(5 708) 0%	(2 986) +48%	(2 587) +13%	(456) +82%	387 N/A	(492) N/A	(772) -57%	(791) -2%	(3 670) -364%
Financing Cash Flow
Net Issuance of Common Stock	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	(16)	(31)	(33)	(33)	(17)	(2)	0	(6)	(8)	(11)	(11)	(7)
Net Issuance of Debt	(209)	(269)	(177)	99	122	149	177	(141)	(200)	(356)	(368)	(335)	(268)	(117)	(162)	(169)	(179)	(188)	(204)	(213)	(228)	(271)	(261)	(253)	(260)	(230)	(256)	(283)	(316)	(348)	(384)	(404)	(410)	(411)	(424)	(434)	(500)	(524)	(537)	(539)	(513)	(526)	(544)	(568)	(569)	(604)	(428)	(364)	(431)	247	339	222	(601)	(1 479)	(2 567)	(2 440)	(514)	35	921	1 029	(255)	(722)	(422)	(505)	(168)	(90)	(41)	(387)	(691)	(584)	(2 067)	(2 222)	(2 532)	(3 158)	(2 735)	(2 585)	(2 632)	(2 593)	(2 609)	(3 300)	(3 263)	(2 772)	(2 284)	(1 716)	(2 076)	(2 192)	(1 265)
Cash Paid for Dividends	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	(62)	(63)	(64)	0	0	0	0	0	0	0	0	0	0	0	0	0	(96)	(93)	(91)	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	(114)	(223)	(223)
Other	0	0	0	0	0	0	0	0	0	0	0	0	0	1	0	(92)	12	12	30	123	19	32	2	12	25	3	0	(10)	(22)	(1)	1	2	14	29	16	12	(26)	(20)	(145)	(172)	(174)	(256)	(150)	(155)	(173)	(141)	(125)	(114)	(114)	(115)	(130)	(118)	(107)	(129)	(192)	(238)	(242)	(247)	(230)	(224)	(235)	(235)	(234)	(249)	(267)	(281)	(175)	(196)	(178)	(172)	(259)	(208)	(206)	(185)	(213)	(188)	(179)	(240)	(214)	(274)	(306)	(228)	(58)	49	166	249	223
Cash from Financing Activities	(209) N/A	(269) -29%	(177) +34%	99 N/A	122 +24%	149 +22%	177 +19%	(141) N/A	(200) -41%	(356) -78%	(368) -3%	(335) +9%	(268) +20%	(116) +57%	(161) -39%	(261) -62%	(168) +36%	(177) -5%	(174) +2%	(90) +48%	(271) -201%	(302) -12%	(322) -7%	(305) +5%	(238) +22%	(227) +4%	(255) -13%	(292) -14%	(338) -16%	(349) -3%	(382) -10%	(403) -5%	(395) +2%	(382) +3%	(408) -7%	(423) -4%	(622) -47%	(637) -2%	(773) -21%	(803) -4%	(683) +15%	(780) -14%	(694) +11%	(723) -4%	(742) -3%	(745) 0%	(553) +26%	(478) +14%	(545) -14%	132 N/A	209 +58%	104 -50%	(708) N/A	(1 608) -127%	(2 759) -72%	(2 678) +3%	(756) +72%	(212) +72%	691 N/A	805 +16%	(490) N/A	(957) -95%	(656) +31%	(754) -15%	(435) +42%	(371) +15%	(216) +42%	(583) -170%	(869) -49%	(756) +13%	(2 326) -208%	(2 430) -4%	(2 738) -13%	(3 343) -22%	(2 948) +12%	(2 789) +5%	(2 842) -2%	(2 866) -1%	(2 856) +0%	(3 591) -26%	(3 571) +1%	(3 000) +16%	(2 348) +22%	(1 675) +29%	(2 035) -21%	(2 177) -7%	(1 272) +42%
Change in Cash
Effect of Foreign Exchange Rates	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	25
Net Change in Cash	165 N/A	29 -82%	(270) N/A	(16) +94%	(110) -602%	69 N/A	87 +27%	(252) N/A	(82) +68%	(153) -87%	(82) +47%	81 N/A	66 -18%	276 +317%	88 -68%	83 -6%	(47) N/A	(314) -570%	19 N/A	216 +1 040%	401 +86%	453 +13%	377 -17%	(93) N/A	(295) -215%	(441) -50%	(184) +58%	205 N/A	69 -67%	757 +1 005%	438 -42%	47 -89%	570 +1 104%	315 -45%	(108) N/A	398 N/A	(184) N/A	(242) -32%	(9) +96%	(101) -1 062%	60 N/A	150 +151%	8 -95%	(154) N/A	289 N/A	171 -41%	265 +55%	550 +108%	54 -90%	238 +341%	566 +138%	433 -23%	186 -57%	1 049 +464%	425 -59%	364 -14%	1 322 +263%	285 -78%	(255) N/A	(83) +67%	(1 178) -1 319%	(939) +20%	439 N/A	(261) N/A	389 N/A	(526) N/A	(264) +50%	208 N/A	493 +137%	1 721 +249%	866 -50%	782 -10%	1 267 +62%	621 -51%	1 385 +123%	62 -96%	(912) N/A	(2 693) -195%	(3 380) -26%	(1 795) +47%	(1 643) +8%	825 N/A	1 879 +128%	1 356 -28%	1 374 +1%	608 -56%	(615) N/A
Free Cash Flow
Free Cash Flow	304 N/A	444 +46%	145 -67%	230 +59%	165 -28%	107 -35%	(28) N/A	(129) -366%	5 N/A	(27) N/A	266 N/A	419 +57%	333 -20%	487 +46%	430 -12%	371 -14%	659 +78%	712 +8%	766 +8%	931 +22%	667 -28%	98 -85%	607 +522%	918 +51%	627 -32%	831 +33%	154 -81%	(374) N/A	(365) +2%	419 N/A	276 -34%	437 +58%	956 +119%	844 -12%	712 -16%	847 +19%	1 053 +24%	805 -24%	1 061 +32%	1 031 -3%	953 -8%	783 -18%	654 -16%	611 -7%	608 0%	524 -14%	607 +16%	458 -25%	(106) N/A	(253) -139%	(265) -5%	(232) +12%	(617) -166%	1 092 N/A	1 520 +39%	1 755 +15%	2 443 +39%	900 -63%	215 -76%	30 -86%	87 +190%	236 +171%	1 043 +342%	350 -66%	110 -69%	(523) N/A	(764) -46%	98 N/A	897 +815%	2 018 +125%	2 853 +41%	3 623 +27%	4 677 +29%	4 891 +5%	4 955 +1%	4 995 +1%	4 260 -15%	4 620 +8%	3 942 -15%	3 744 -5%	3 265 -13%	2 911 -11%	2 558 -12%	2 119 -17%	2 557 +21%	1 907 -25%	2 281 +20%

Income Statement Balance Sheet Cash Flow Statement

Turk Hava Yollari AO
IST:THYAO.E

Cash Flow Statement

Cash Flow Statement
Turk Hava Yollari AO

See Also

Company

Help

Tools

Stocks

Turk Hava Yollari AO IST:THYAO.E

Cash Flow Statement

Cash Flow Statement Turk Hava Yollari AO

See Also

Company

Help

Tools

Stocks

Turk Hava Yollari AO
IST:THYAO.E

Cash Flow Statement
Turk Hava Yollari AO