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.