Turkish Airlines Reports Passenger Growth and Financial Performance
In the first seven months of 2024, Turkish Airlines experienced a 3.5 percent increase in passenger numbers compared to the same period last year, reaching a total of 48.94 million travelers. The international passenger count rose by 3.6 percent, amounting to 30.9 million, while domestic passenger numbers saw a growth of 3.4 percent, surpassing 18 million.
Despite this growth, the airline’s passenger load factor decreased from 82.3 percent in the previous year to 81.5 percent in January-July. The flag carrier expanded its fleet by 8 percent, bringing the total number of aircraft to 458 by the end of July. Additionally, the number of destinations served increased from 339 to 342.
Turkish Airlines reported a 9.6 percent rise in seat capacity, totaling 95,047. The airline also handled 1.2 million tons of cargo and mail, marking a significant 30.4 percent increase year-on-year.
In July alone, however, the airline experienced a 2.6 percent decline in passenger traffic compared to July 2023, totaling 8.33 million passengers. The number of international passengers decreased by 1.7 percent to 5.2 million, while domestic travel saw a 4.2 percent drop to 3.12 million.
The passenger load factor for July was recorded at 85.2 percent, down from 85.7 percent in the same month last year. In a recent financial update, Turkish Airlines reported a remarkable 34.7 percent year-on-year increase in net income, reaching $1.17 billion in the first half of 2024, with overall revenue rising by 9.8 percent to $10.4 billion.
Passenger revenue increased from $8.1 billion to $8.4 billion, while cargo revenue experienced a substantial growth of over 37 percent annually, totaling $1.64 billion.
