The global aviation sector has left behind a period of more than a year that has seen its biggest crisis and biggest losses to date.
Despite the effects of the crisis caused by Covid-19, Turkish Airlines managed to conclude the fourth quarter of 2021 with an actual operating profit of $619 million and a net profit of $225 million.
Our company’s total revenue in the fourth quarter of 2021 was USD 3.3 billion, surpassing the same period in 2019. As for freight revenue, which accounts for 39% of total revenue, it recorded a 172% increase over the same period. in 2019.
In these difficult times, the flag carrier managed to limit its operational loss thanks to the measures taken to reduce costs, which led to a 12% decrease in total expenses during the fourth quarter of 2021, compared to the same period in 2019. As a result, EBITAR (Earnings Before Interest, Taxes, Depreciation, and Rent), which shows the company’s cash-generating potential, stood at USD 1.242 billion, an increase of 39%. compared to the same period in 2019. The EBITAR margin increased by 10.3 points compared to last year and became 37.5%.
During the fourth quarter of 2021, which reached 84% of the global carrier’s passenger capacity in the fourth quarter of 2019, Turkish Airlines carried a total of 13.7 million passengers with a load factor of 79% on domestic flights and 69% on international flights. Turkish Airlines continued to strengthen its identity as a global airline with its extensive flight network, high frequencies and superior hygiene standards. With this identity, the global carrier has managed to transfer its capacity from routes suspended during this period to profitable routes. At the end of December, the airline had one of the youngest and most modern fleets in the world with 370 planes, including 246 small carriers and 104 large carriers, as well as 20 cargo planes.
As the European leader in terms of flights operated in 2020, Turkish Airlines maintained its leading position in 2021 among European network carriers. Turkish Airlines managed to turn the crisis into an opportunity by focusing on cargo transportation and making several passenger aircraft from its fleet available to Turkish Cargo. According to 2021 data, the global carrier has become the fifth largest air cargo carrier excluding integrators in the world.
Employing approximately 60,000 people combined with its subsidiaries, Turkish Airlines continues to proudly fly its flag among airline giants as the brand that leads its industry with its unparalleled flight network, modern fleet, exceptional cargo performance and… successful crisis management. With the end of the pandemic and the consequent ramping up of the approach to the aviation industry, the airline will accelerate its pace towards the top of the sector and continue to produce added value for Turkey and the airline sector. aviation with greater effort than ever.