Turkish Airlines flies high with $2.4 billion annual profit
Turkish Airlines posted a healthy US$2.4 billion profit for 2024 despite a challenging aviation industry hit by geopolitical and global tensions.
The carrier also revealed a cash dividend of $260 million for the same period, partly owing to its share buyback strategy.
Net debt fell by $8.3 billion in the past three years.
Total revenues in 2024 increased by 8.2% year-on-year to $22.7 billion while passenger revenue rose by 4%.
Prof. Ahmet Bolat, Turkish Airlines Chairman, said: “Turkish Airlines continues to set industry benchmarks with its strong financial performance and strategic growth as showcased by our 2024 results.”
“Despite global challenges, we remain committed to delivering service and expanding our global network. As we move forward towards our 100th anniversary, we take pride in strengthening Türkiye’s position as a key player in global aviation.”
2024 marked a year of milestones for Turkish Airlines.
The carrier officially received the Guinness World Record title for ‘Most Countries Flown to by an Airline.’
It expanded into a new continent with the addition of Melbourne and Sydney routes to its network,
Turkish Airlines also launched flights to Santiago, Chile, increasing its served countries to 131 and total international destinations to 299.
During 2024 the fleet increased by 12% to 492 aircraft
Also last year, the airline secured $1.8 billion in aircraft financing and became the first carrier to agree a finance deal in Chinese Yuan
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Editor for TravelMole North America and Asia pacific regions. Ray is a highly experienced (15+ years) skilled journalist and editor predominantly in travel, hospitality and lifestyle working with a huge number of major market-leading brands. He has also cover in-depth news, interviews and features in general business, finance, tech and geopolitical issues for a select few major news outlets and publishers.
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