Turkish Q3 net profit down 8.3% on challenging environment
Turkish Airlines reported a 2019 Q3 net income of US$655m, down 8.3% from $714m in the year-ago period. Operating profit for the quarter dropped 28.5% year-over-year to $641m. No management statement was available, but the carrier primarily attributed the Q3 results to decreasing domestic demand, the Boeing 737 MAX fleet grounding, currency exchange and limited revenue growth. Sept 6 the carrier lowered its revenue guidance for 2019 in the face of falling demand and other factors that have hampered operations. The carrier said revenue was slightly up 1.8% for the quarter to $4b from $3.9b YOY. Q3 EBITDAR stood at $1.3b, down 13.4% YOY; the Q3 EBITDAR margin was down 5.7 points to 32.4%. Fuel costs for the quarter rose 0.2% to $1.06b. <br/>
https://portal.staralliance.com/cms/news/hot-topics/2019-11-14/star/turkish-q3-net-profit-down-8-3-on-challenging-environment
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Turkish Q3 net profit down 8.3% on challenging environment
Turkish Airlines reported a 2019 Q3 net income of US$655m, down 8.3% from $714m in the year-ago period. Operating profit for the quarter dropped 28.5% year-over-year to $641m. No management statement was available, but the carrier primarily attributed the Q3 results to decreasing domestic demand, the Boeing 737 MAX fleet grounding, currency exchange and limited revenue growth. Sept 6 the carrier lowered its revenue guidance for 2019 in the face of falling demand and other factors that have hampered operations. The carrier said revenue was slightly up 1.8% for the quarter to $4b from $3.9b YOY. Q3 EBITDAR stood at $1.3b, down 13.4% YOY; the Q3 EBITDAR margin was down 5.7 points to 32.4%. Fuel costs for the quarter rose 0.2% to $1.06b. <br/>
