suzyq

Member
Turkish Airlines reports TL 410 mln net loss for 2015
Turkey's national flag carrier Turkish Airlines (THY) posted a net loss of TL 410 million in 2015, the company's provisional tax declaration has revealed.

The declaration, sent by THY to the Public Disclosure Platform (KAP) on Monday, showed that the company recorded a net loss of nearly half a billion Turkish lira and that the losses largely stemmed from the company's foreign currency denominated loans.

The Turkish lira sustained the fifth biggest loss against the US dollar among 20 emerging national currencies, having fallen by 20 percent, in 2015.

THY earned TL 27.5 billion from net sales in 2015, according to the statement.

In March 2015, the credit rating agency S&P assigned a negative outlook rating to the THY as it stated that the company might soon require financial assistance from the government.

“The rating on THY also reflects our view that the Turkish government has a moderately high likelihood of offering extraordinary support to THY because of the strong link between THY and the government, as well as the airline's important role in the Turkish economy,” S&P report underscored.

The state owns 49 percent of THY, while the remaining stakes are listed on Turkey's stock exchange, Borsa İstanbul.

Turkish Airlines reports TL 410 mln net loss for 2015
 

angelaturkey

Days On The Beach in Side
Turkish Airlines reports TL 410 mln net loss for 2015
I am not surprised they are making a loss. We are flying from Antalya to Istanbul next month - a 1hr 10 minute flight - for just £8 each way - - - how can you make a profit on that?!
 

esb1841

Member
Turkish Airlines reports TL 410 mln net loss for 2015
I am not surprised they are making a loss. We are flying from Antalya to Istanbul next month - a 1hr 10 minute flight - for just £8 each way - - - how can you make a profit on that?!

People that plan ahead ( early bookings) pay £8 People that leave their travel plans to the last minute pay £40+

Majority of people flying on a Friday evening / Monday Morning are business travellers and not bothered regarding cost as someone else is paying
 
Turkish Airlines reports TL 410 mln net loss for 2015
Thats how the business model works for most airlines. Of course £8 isnt an economically viable fare - its simply a means of kick-starting the booking process, getting traffic to the site and as more visit and the departure date gets nearer the price increases.

Interestingly enough, Pegasus - which operates the same model with Dalaman-Istanbul flights booked months in advance selling at 9.99TL (not pounds) - announced their profits before tax for the first 9 months of 2015 increased to over 636 million TL with sales up by 14% to 2.7 billion TL

https://www.flypgs.com/en/press-roo...llion-tl-during-the-first-nine-months-of-2015
 

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