Turkish Airlines posts H1 net loss of US$644m
Turkish Airlines recorded a net loss of TRY1.894m (US$644m) for the first half-year ended June 30, compared to a profit of TRY1.035m for the same period a year ago. The carrier had experienced “challenging conditions” in the tourism sector, including a series of terrorist bombings in Turkey, which depressed yields further due to decreased local demand, Turkish Airlines reported in its consolidated balance sheet statement. In Q2, the carrier posted a net loss of TRY656m, compared to a TRY661m profit for year-ago period. Turkish Airlines said lower fuel prices and increased capacity continued to put pressure on yields. Newly opened long-haul routes decreased yields further. Half-year revenue was up to TRY13.5b compared to TRY12.3b YOY, producing an YOY operating loss of TRY1.2m compared to a TRY517m profit. <br/>
https://portal.staralliance.com/cms/news/hot-topics/2016-08-23/star/turkish-airlines-posts-h1-net-loss-of-us-644m
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Turkish Airlines posts H1 net loss of US$644m
Turkish Airlines recorded a net loss of TRY1.894m (US$644m) for the first half-year ended June 30, compared to a profit of TRY1.035m for the same period a year ago. The carrier had experienced “challenging conditions” in the tourism sector, including a series of terrorist bombings in Turkey, which depressed yields further due to decreased local demand, Turkish Airlines reported in its consolidated balance sheet statement. In Q2, the carrier posted a net loss of TRY656m, compared to a TRY661m profit for year-ago period. Turkish Airlines said lower fuel prices and increased capacity continued to put pressure on yields. Newly opened long-haul routes decreased yields further. Half-year revenue was up to TRY13.5b compared to TRY12.3b YOY, producing an YOY operating loss of TRY1.2m compared to a TRY517m profit. <br/>
