Turkish Airlines targets $14 billion in revenue this year

Turkish Airlines targets $14 billion in revenue this year

Turkish Airlines targets $14 billion in revenue this year

The national flag carrier Turkish Airlines (THY) has said it aims to carry 80 million passengers and $14.1 billion in revenues this year.

Its target includes 33 million domestic and 47 million international passengers, Turkish Airlines announced on Jan. 14 in a filing with Borsa Istanbul.

The national flag carrier served a total of 75.2 million passengers last year, a 10 percent increase from 2017.

“While passenger load factor is expected to be in the band of 81 percent and 82 percent, total Available Seat Kilometers [ASK] will approximately reach 195 billion with an increase of 7 percent to 8 percent compared to 2018,” the airline said.

“Capacity [ASK] increase is expected to be 3 percent in Turkey, 11 percent in the Middle East, 6 percent in Europe, 8 percent in Far East, 7 percent in America and 15 percent in Africa regions.”

In 2019, cargo/mail carried is expected to rise by 3-4 percent, reaching around 1.45 million tons, it added.

Strong revenue forecast

Turkish Airlines also said that its sales revenue target for 2019 is $14.1 billion.

The national flag carrier expects jet fuel consumption to increase by 8 percent to 9 percent compared to 2018 while its forecast for average jet fuel, including fuel hedge, is $715/ton in 2019.

Thus, cost per available seat kilometer (CASK), excluding fuel, is expected to increase by 3-5 percent, according to the company’s guidance for 2019.

Turkish Airlines, founded in 1933, flies to 306 destinations in 124 countries with its fleet of 332 aircraft including passenger and cargo planes.

Turkish Airlines, revenue, 2019, forecast