Security fears push Turkish Airlines into loss

Turkish Airlines Tuesday posted a massive loss as concerns over security in Turkey and the region took their toll on the ambitious airline. Turkish Airlines said its net loss in Q1 amounted to $421m, compared with a net profit of $153m in the same period last year. Sales were $2.188b, down 1.4% from Q1 last year, it added. "The political and economic instabilities... and increasing perceived global and regional risks in Turkey and Europe have a negative impact on aviation demand and placed additional pressure on yields in a seasonally low quarter," it said. Tourism to Turkey is down this year with a succession of attacks in Istanbul, Ankara and other cities blamed on Kurdish and Islamist militants hitting visitor numbers. But Turkish Airlines -- which is now the country's biggest exporter -- will despite the loss "continue to manage its healthy and profitable growth," the company promised.<br/>