Turkish Airlines performed better than rivals as Covid sent the aviation industry into tailspin last year.
The carrier ended 2020 with revenue of $6.7 billion and an ebitda profit of $1.9 billion – half the annual level achieved pre-pandemic.
However, chairman İlker Aycı said: “We performed very well in 2020 compared to our competitors by not receiving cash assistance from our government.
“We managed the crisis with our own resources and operational efficiency, without cash government support while taking measures.”
Turkish Airlines carried 28 million passengers with a load factor of 71% last year – down from 74.3 million in 2019.
Total revenues reached $4 billion in the first half of 2021, about 67% of 2019 levels, Ayci told CNN International.
“Our success as Europe’s best performing flag carrier is not a coincidence,” he said.
“In addition to the many measures we have taken, we owe our success to the dedication of our employees. While other airline employees are facing layoffs, we have not parted ways with any of our employees during this process; we have decided not to lay off staff in order to provide better service and a faster recovery than other carriers.
“The global aviation industry has faced the biggest crisis to date for over a year and has suffered the heaviest losses in history.
“Like other global carriers, we quickly adapted to many challenges in the process. We took a quick position to maintain financial stability and as a result, we are proud to be among the airlines that successfully weathered the crisis.”