Turkish Airlines reported a profit from main operations of USD 2.4 billion for 2024, showing strong resilience in an increasingly challenging global environment. Despite geopolitical tensions and supply chain issues as well as engine setbacks the airline exceeded industry averages for passenger numbers, capacity, and profitability.
Turkish Airlines has successfully lowered its net debt over the past three years by USD 8,3 billion. Total revenue for the airline in 2024 is expected to increase by 8.2 %, reaching USD 22.7 Billion. Passenger revenue increased by 4% despite intense competition, while cargo revenue increased by 35%.
Turkish Cargo’s success as the third largest air cargo carrier in the world was largely due to a 20 percent increase in cargo volume. Export earnings accounted for approximately USD 18 billion, which highlights the company’s significant economic contribution.
Turkish Airlines’ ability to generate operational cash was demonstrated by its EBITDAR, which is USD 5.7 billion with a margin of 25.3%. These results are in line the airline’s long term financial targets and highlight its commitment to investor returns.
Prof. Ahmetbolat, Chairman of Turkish Airlines stated that:
“Our 2024 Results reflect the strength of financial performance and strategic expansion. Despite global challenges we continue to grow our network and provide value for both investors and passengers. As we approach our 100th anniversary, we remain dedicated to strengthening Türkiye’s role in global aviation.”
Turkish Airlines added new routes in 2024 to Melbourne, Sydney and Santiago. In addition, the airline set a Guinness World Record “Most Countries Flew by an Airline”. The airline’s fleet grew by 12 per cent, and it secured innovative financing options, including sustainability-linked loans. Turkish Airlines’ commitment towards sustainable growth remains a key part of its 2033 strategy.
