Turkish Airlines narrows net loss in Q1
Turkish Airlines recorded a 2017 Q1 net loss of US$373m, narrowed from a net loss of $421m for the year-ago quarter. Operating revenue for the quarter was $2b, down 10% year-over-year from $2.2b in the 2016 Q1. Expenses fell 11% to $2.2b, producing an operating loss of $209m, narrowed from a $280m operating loss in the year-ago period. Fuel prices dipped 2.2% to $591m for Q1 2017. The carrier said 22% of its revenue is generated from business-class passengers. Q1 traffic decreased 7.3% YOY to 26.9b RPKs on a 7.8% decrease in capacity to 36.3b ASKs, producing a load factor of 74.2%, up 0.5 point YOY. Passenger numbers were down 8% YOY to 13m. The carrier is still experience “challenging conditions” in the tourism sector, following a series of terrorist bombings in Turkey last year. <br/>
https://portal.staralliance.com/cms/news/hot-topics/2017-05-11/star/turkish-airlines-narrows-net-loss-in-q1
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Turkish Airlines narrows net loss in Q1
Turkish Airlines recorded a 2017 Q1 net loss of US$373m, narrowed from a net loss of $421m for the year-ago quarter. Operating revenue for the quarter was $2b, down 10% year-over-year from $2.2b in the 2016 Q1. Expenses fell 11% to $2.2b, producing an operating loss of $209m, narrowed from a $280m operating loss in the year-ago period. Fuel prices dipped 2.2% to $591m for Q1 2017. The carrier said 22% of its revenue is generated from business-class passengers. Q1 traffic decreased 7.3% YOY to 26.9b RPKs on a 7.8% decrease in capacity to 36.3b ASKs, producing a load factor of 74.2%, up 0.5 point YOY. Passenger numbers were down 8% YOY to 13m. The carrier is still experience “challenging conditions” in the tourism sector, following a series of terrorist bombings in Turkey last year. <br/>
