[ad_1]

Turkish Airlines’ profits slipped amid higher costs in the third quarter, a period in which strong cargo growth helped offset flat passenger revenue.

The Star Alliance carrier boosted revenue 5% year on year to $6.63 billion in the three months ending 30 September 2024.

Turkish Cargo Boeing 777

Notably, while passenger revenue was virtually flat at $5.55 billion versus the same quarter last year, cargo sales jumped 47% year on year to $911 million. The latter growth was driven by strong demand from the Far East. 

Operating costs over the same period rose 14% year on year to $5.42 billion, including a 54% year-on-year increase personnel costs. The carrier also flags the cost impact of the continued groundings of a portion of its Pratt & Whitney GTF-powered Airbus narrowbody fleet

As a result, the carrier’s profit from main operations fell 22% to $1.35 billion in the third quarter, while net profit was down a fifth at $1.54 billion.

The growing role of cargo amid heightened cost pressures continues a trend already evident in the second quarter. While Turkish Airlines’ freight revenue for the first nine months of 2024 was up 40% year on year, its passenger turnover increased only 3% year on year during the nine-month period.



[ad_2]

Source link

Posted in
Limousine
Related Posts
Limousine Comments are Closed

Plan the perfect NYC Memorial Day weekend

Pack only what you need and avoid overpacking to streamline the check-in and security screening…

News Comments are Closed

LA’s worst traffic areas and how to avoid them

Consider using alternative routes, such as Sepulveda Boulevard, which runs parallel to the 405 in…

How year-end losses skewed our review of airline safety performance in 2024 | Analysis

[ad_1] Two high-profile fatal accidents in late December created the impression that airline safety began…

Boeing sees India, South Asia carriers needing over 2,800 new aircraft by 2043 | News

[ad_1] Boeing forecasts a significant increase in the number of commercial aircraft required by Indian…

SkyWest returning 30 regional jets to service for summer block-hour surge | News

[ad_1] Regional carrier SkyWest Airlines expects to approach “2019 levels” of block-hour flying this year…

Angolan flag-carrier TAAG starts widebody modernisation with first 787

[ad_1] Angolan flag-carrier TAAG has taken delivery of its first Boeing 787, one of four…

Icelandair aims to work fleet harder in 2025 and return to profit | News

[ad_1] Icelandair is guiding for capacity growth of around 8% in 2025 based on a…

Night vision equipment and crowded airspace under scrutiny in Washington collision | News

[ad_1] It still remains unknown what factors caused the deadly collision on 29 January between a US…

JAL A350 collision probe strives to explain Dash 8’s failure to stop at runway holding point

[ad_1] Japanese investigators have disclosed that a De Havilland Dash 8-300’s departure from Tokyo Haneda…

Dash 8’s lights would have blended with runway centreline before A350 collision: inquiry

[ad_1] White lighting on a De Havilland Dash 8 would have blended in with surrounding…

Flight delays: What rights do you have to compensation or refund if your plane is late?

[ad_1] Your support helps us to tell the story From reproductive rights to climate change…

Emirates to put A350s on Gulf routes including short Bahrain sector

[ad_1] Middle Eastern carrier Emirates is to place Airbus A350s to the Gulf states of…

Post a comment

Your email address will not be published.