Turkish Airlines sales take off

By | Business
Turkish Airlines has reported staggering growth rates in its most recent financial statistics.

Turkish Airlines has reported a 26 percent increase in sales during 2012, amounting to 19.4 billion Turkish Lira (approximately £7 billion). Meanwhile, the airline’s operating profit saw a staggering increase from 19 million to 1.1 billion Lira between 2011 and 2012, marking a 192 percent surge.

Statistics indicate a high satisfaction rate with Turkish Airlines customers. It now ranks third among the Association for European Airlines based on the number of passengers carried, after marking a 20 per cent increase last year. The airline has racked up an impressive array of awards, including “Best Premium Economy Seats” and “World’s Best Economy Class On-board Catering”, and has been recognised as Europe’s best airline for two consecutive years.

Today, the airline is the fifth biggest carrier in the world in terms of destination numbers. Formed in 1933 with only five airplanes, it is now a four-star airline boasting a 207-strong fleet that reaches 219 cities worldwide. Mogadishu, Somalia, recently became one of the airline’s newest destinations, after the Turkish Government launched an incentive to renovate the city’s Aden Adde International Airport as part of Turkey’s involvement in the reconstruction of the war-torn country.

The future of Turkish Airlines looks even brighter. This month, it signed its largest ever deal with Airbus, ordering a total of 117 new carriers, expected to be delivered in 2015.

The appeal of Turkey itself as a tourist and business destination has increased remarkably in recent years. The country ranked as the world’s 6th most popular tourist destination in 2011, according to World Tourism Organization. Traditionally a religious country, Turkey’s social and political climates have gradually become more secular and have facilitated its closer integration with the West.

With its geographic location as a gate between East and West, and with its strategic relations with both sides, Turkey is also rising as a financial hub. The IMF officially branded the country as an emerging market economy in 2011, affirming its resilience in the face of global economic hardships.

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