Turkish Airlines dubbed 2016’s leading brand
ANKARA - Anadolu AgencyTurkish Airlines has been described as Turkey’s most valuable brand for 2016, a leading London-based consultancy has stated, with the flagship carrier’s value rising 11 percent since last year.
According to Brand Finance’s list of Top 100 Turkish Brands 2016, which was released on June 15, the airline led for the first time with a brand value of $2.4 billion in flying to 289 destinations worldwide – 240 international locations and 49 domestic stops, with 323 aircraft.
Turkish Airlines was followed by Türk Telekom, the leading communication and convergence technology company in the country. Türk Telekom was valued at $2.35 billion, a 5 percent fall since 2015.
Appliance manufacturer Arçelik was worth $1.98 billion, an increase of 7 percent since last year, making it third place.
Akbank ($1.58 billion), a Turkish lender owned by the Sabancı Group, and Garanti Bank ($1.52 billion), one of the leading lenders in the Turkish market partly owned by Spain’s second biggest lender, BBVA, took fourth and fifth places respectively.
The top ten also included the country’s largest mobile operator, Turkcell ($1.43 billion), and İşbank ($1.29 billion), one of the country’s biggest lenders.
Brewer and soft-drinks manufacturer Anadolu Efes ($1.15 billion) also featured, as did Yapı Kredi Bank ($980 million), the Turkish bank partly owned by UniCredit. State-owned Halkbank ($958 million) was also on the list.
The Turkish banking industry was a notable performer in the list with five bank brands ranked in the top 10.
Turkish banks’ combined brand value totaled $9.4 billion, which is 32 percent of the total value of the top 100 Turkish brands.
The combined value of the top 100 Turkish brands decreased nearly 15 percent from last year to a total of $29.3 billion.