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Turkish Airlines has soared back into profitability with $939 million in the third quarter taking the year to date profit to $956 million. The third quarter figures are a record for the Istanbul carrier.
The successful 3rd quarter marked a 23 percent increase on total revenues compared to the same period of 2016, reaching USD 3.6 billion. The 9-monthly average on total revenues marked $8.2 billion with an 8 percent increase.
According to Turkish Airlines 2017 Q3 financial results; the margin of its earnings before interest, taxes, depreciation and amortization (EBITDA) increased 90 percent to $1.5 billion. The 41% EBITDA margin confirms the airline’s position amongst the most profitable airlines of the industry.
“The net profit recorded in 2017 Q3, clearly demonstrates our capacity to generate cash” said Turkish Airlines chairman İlker Aycı said.
“As the Turkish Airlines family with our common aim to become one of the leading five star airlines of the world, we will continue this growth trend without ever compromising form our service quality. As largest exporter of Turkey, our march will continue to position Istanbul as a major hub for international airport” he added.