Turkish Airlines posts record profit in Q3
Turkish Airlines posts record profit in Q3
The successful third quarter marked a 23 percent increase in total revenues compared to the same period of 2016, reaching $3.6 billion. The nine-month average on total revenues marked $8.2 billion with an 8 percent increase.
According to Turkish Airlines 2017 third quarter financial results, the margin of its earnings before interest, taxes, depreciation and amortization (EBITDA) increased 90 percent to $1.5 billion. The 41 percent EBITDA margin confirms the airline’s position among the most profitable airlines of the industry.
“The net profit recorded in 2017’s third quarter, clearly demonstrates our capacity to generate cash,” said lker Aycı, Turkish Airlines chairman of the board and executive committee.
“We will continue this growth trend without ever compromising on the quality of our service…” he added.
According to the 2017 third quarter financial results, Turkish Airlines, with 81.5 percent, reached the highest September occupancy capacity of the past five years.
The airline’s occupancy capacity increased by 17 percent compared to the third quarter of 2016, with the airline serving 21.3 million passengers. Hence the nine-month average reached 79 percent occupancy, reaching 52 million passengers. Financial measures applied translated as 6 percent decrease in the nine month operational costs.
On the other hand, Turkish Cargo has increased destinations from 55 to 72 as of 2017 third quarter and has reached 294 thousand tons of cargo with 29 percent increase.
Turkish Cargo in the third quarter of 2017 also increased revenues by almost 40 percent reaching $343 million. Turkish Cargo was recently awarded the “Best Air Cargo Carrier in Asia.”
Along with the new destinations of 2017 such as Samara and Phuket, the number of destinations served by the flag carrier reached 300 in the third quarter of 2017, including 49 domestic and 251 international destinations in 120 countries. The fleet of Turkish Airlines, one of the youngest in the world, contains 223 narrow-body planes, 90 wide-body planes and 16 cargo planes.
The excitement for the Turkish National Children’s Day Celebrations is lived in Dubai
It is the 98th year of celebrating 23 April National Children’s Day and the joy and excitement of these celebrations have taken place for the 9th time in Dubai. The event took place on Friday 20 April at 3pm at The Cultural & Scientific Association in Al Mamzar, Dubai.
23 April is a day, that is dedicated to the children of Turkey by the founder of the Turkish Republic, Mustafa Kemal Atatürk to emphasize that they are the future of the new nation. Every year, the children in Turkey celebrate this "Sovereignty and Children's Day" as a national holiday since 1927. In Dubai, this organization aims to provide a great opportunity to enrich the cultural and traditional bonds between the United Arab Emirates and the Turkish Community.
23 April National Children’s Day celebrations are organised under the patronage of the Consulate General of the Republic of Turkey, invaluable support of Turkish Business Council in Dubai and Northern Emirates, and brought to life by a group of volunteer Turkish ladies from “Sultans of Dubai”; a group of Turkish Women living in Dubai.
The two-part event was held in this exquisite venue made up of a theatre and external areas with entertainment consisting of folkloric dance show by a group from “Barbaros Hayrettin Ilkokulu” a primary school in Izmir travelling from Turkey with generous contributions of Turkish Airlines; the Consulate’s Turkish class’ choir showcasing their dance, songs and poems; Dubai Drums demonstrating a taste of African Drums; Bogz the Magician with his rather extraordinary magic show and many more activities to dazzle its young guests.
A delicious selection of Turkish and International cuisine generously offered by Turkish Restaurants around Dubai together with numerous entertainment stations for all children and Irem Derlen and her orchestra travelling from Turkey just to give a concert at the event were also part of the program for our children.
Pinar and Turkish Airlines played the main role in the sponsorship arena for these celebrations. They were joined by Burjuman Arjaan by Rotana Dubai, MNG, LC Waikiki and Rani as Platinum Sponsors; Turkish Village Restaurant, HealthBay Polyclinic, Mahmoud Tea, Dr Tosun Dental Clinic, TAV Construction, Deligourme as Silver Sponsors; Marmara Hotel Apartments, Bophorous Turkish Restaurant, Abdulla Al Suwaidi Advocates & Legal Consultants, Pomegranate Institute, IMG Worlds of Adventure, Zouzou Restaurant and Sesame Restaurant just to name a few.
In addition, all sponsor companies offered gifts, favours, vouchers, and experiences for the draw which attracts much interest from all participants.
As has been witnessed in the recent years, the event attracts over a thousand people and is eagerly awaited by the rather large Turkish Community in the UAE.