News
Turkish posts $1.69 billion profit and seals Royal Brunei code share agreement
March 4th 2016
Turkish Airlines exceeded analysts’ expectations when it reported a net profit of $1.1 billion for the full-year to December 31, up from $845 million in 2014, and surpassing the billion dollar mark for the first time in its history. Read More » The record result was largely due to $800 million in fuel savings compared with the previous year, it said. Profit in 2015 from its main operations was $895 million, with sales hitting $10 billion.
During the year, the Istanbul-based flag carrier’s ASKs increased and it carried 61.2 milllion passengers on 453,000 flights. Its average load factor was 78%.
“First of all, I would like to specify that we successfully completed 2015, which was generally described as a tough year for both the world and our country,” chairman of the board and the executive committee, Ilker Ayci, said in a statement.
Turkish Airlines CEO, Temel Kotil, told Orient Aviation at a recent meeting of Star Alliance airline members that he planned to hold 5% of the global passenger market by 2023, the centenary of the founding of the Republic of Turkey. Turkish flies to more countries than any other carrier. Since Kotil became CEO in 2005, the airline had not reported a net loss.
Recently, Turkish entered into a codeshare agreement with Royal Brunei Airlines, now in operation, which allows passengers to connect from Istanbul via Dubai to Bandar Seri Begawan (and vice versa).
Royal Brunei’s chief commercial and planning officer, Karam Chand, said “Royal Brunei Airlines is delighted with the recent enhancements of the commercial cooperation between both airlines. We are keen to expand the codeshare arrangements for our mutual benefit”.
