Turkey · Delayed Price · Currency is TRY Türk Hava Yollari Anonim Ortakligi Earnings Call Transcripts
Fiscal Year 2026
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Q2 saw strong revenue and cargo growth despite Middle East conflict and soaring fuel costs, with robust demand in Asia and resilient premium cabins. Cost pressures were partly offset by efficiency measures and hedging, while liquidity and CapEx discipline support ongoing investments.
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Record quarterly revenue and strong passenger/cargo growth were achieved despite geopolitical disruptions and soaring fuel costs. Capacity was dynamically reallocated, cost controls and surcharges implemented, and long-term growth plans remain intact amid ongoing uncertainty.
Fiscal Year 2025
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Delivered strong growth and profitability in 2025, with revenues up 6% to $24B and net income at $2.9B. Outlook for 2026 remains positive, though geopolitical risks and fuel costs present uncertainties.
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Q3 saw record passenger numbers and strong growth in Asia and Africa, offset by softer demand in North America and Europe. Revenue rose 5% year-over-year, but profitability declined due to higher costs and cargo weakness. 2025 guidance maintains margin targets but lowers revenue growth expectations.
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Q2 saw 6% revenue growth to $6B, with strong passenger demand offsetting cargo weakness. Net income fell 25% year-over-year due to currency and tax effects, but EBITDA margin remained robust at 26%. Guidance for 2025 is maintained, with capacity and revenue growth expected.
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First quarter revenue hit a record $4.9B, but net income was -$44M due to inflation and currency headwinds. Passenger and cargo volumes remained resilient, with strong regional performance and ongoing cost controls supporting a positive outlook for 2025.
Fiscal Year 2024
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Revenue grew 8% to $22.7B, net profit rose 17% to $3.4B, and cargo revenue surged 35% year-over-year. Passenger capacity increased 8.2%, with strong growth in the Far East and Americas. 2025 guidance targets 6%-8% capacity growth, flat yields, and a 22%-24% EBITDA margin.
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Q3 revenue hit a record $6.6B, with strong cargo growth and 13th consecutive profitable quarter. Cost pressures from inflation and aircraft groundings persist, but liquidity and investment gains remain robust. 2024 guidance sees 8%-9% revenue growth and 24%-27% EBITDAR margin.
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Q2 2024 saw 10% revenue growth, a 49% net income increase, and strong cargo performance, despite yield pressure and operational challenges from engine issues. Capacity and fleet expansion continue, with robust liquidity and a positive outlook for the remainder of the year.