Turkish Airlines Announces Its Losses in the First 6 Months of 2020
The companies that lost the most during the coronavirus pandemic were generally in the transportation sector. Especially airline companies for long periods of time…
The companies that lost the most during the coronavirus pandemic were generally in the transportation sector. Especially airline companies for long periods of time…
The companies that lost the most during the coronavirus pandemic were generally in the transportation sector. In particular, airline companies suffered losses worth billions of dollars due to flights canceled for long periods. Our country's largest airline Turkish Airlines It was one of the companies that experienced this loss.
Turkish Airlines (THY) announced its second quarter balance sheet of 2020. According to the statement, THY will operate in April, May and June 2020. 2 billion 234 million TL net loss got it. The company announced a net profit of 133 million TL in the same period last year. When the loss announced by the company in the first 3 months of 2020 is added, the first at 6 months total loss 4.2 billion TLIt went up to .
Cargo revenues increased
Although THY declared a loss in the field of transportation during this period, its cargo revenues increased in dollar terms compared to the previous year. 90 percent It increased. While passenger and technical revenues decreased by 96 percent and 61 percent respectively, the consolidated turnover decrease was 72 percent in dollar terms. The company's consolidated turnover decreased by 67 percent in TL terms.
In the quarter where passenger transportation came to a halt, THY's small number of passenger and cargo revenues were generally realized in the Far East, USA and Europe. These revenues were realized with shares of 43 percent, 20 percent and 18 percent, respectively.
Turkish Airlines announced a total net loss of 4 billion 257 million TL in the first half of 2020. The company announced a net loss of 1 billion 120 million TL in the same period of 2019. The company, which could not make domestic and international flights especially in April and May, made a limited number of flights in June.
The new quarter is more hopeful
THY's third quarter results are expected to be more positive. Especially in summer tourism sector mobilization and experiences during the pandemic normalization process It is known that both domestic and international flights have increased as a result.
Every business is unique. Let’s explore how we can tailor these ideas to your own digital project.
