Turkish Airlines has reported a $2.4 billion net profit for 2024 in a “challenging aviation industry hit by geopolitical and global tensions, aircraft production delays and engine issues”.
In 2023, its net profit had reached $6 billion, up by 122% year on year, driven by higher passenger traffic.
Turkish Airlines carried 83.4 million passengers last year – up 2.1% from 2023.
The carrier’s total revenues in 2024 increased by 8.2% year-on-year to $22.7 billion. Passenger revenue rose by 4% under intensifying competition, while cargo revenue grew by about 35% compared to 2023.
It posted earnings before interest and taxes (Ebitda) of $5.7 billion with a margin of 25.3%, “aligning with the carrier’s long-term targets”.
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 our award-winning service and expanding our global network, while providing long-term value for our investors, employees, and of course our guests.
“As we move forward towards our 100th anniversary [in 2033], we take pride in strengthening Türkiye’s position as a key player in global aviation and forge ahead on our journey to the top.”
The airline expanded into a new continent last year with the addition of Melbourne and Sydney routes to its network, and also launched flights to Santiago, Chile, increasing its served countries to 131 and total international destinations to 299.
The fleet increased by 12% to 492 aircraft in 2024, supporting Turkish Airlines’ ambition to have an 800-strong fleet by 2033.
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