Turkish Airline posts first loss in 17 years

Europe's fast growing carrier suffered due to terrorism but expects a return to previous profitability by 2018

Turkish Airlines became the latest Middle East carrier to report a fall in fortunes this year, reporting a $350 million operating loss for the year.

The figure compares with a $682 million profit figure in 2015 which suffered due to terrorism and a tenuous political environment in Turkey which led to the lowest traffic figures through the country in a decade.

The carrier suspended 30 aircraft and 22 destinations in November last year. Despite this, passengers travelling with the airline increased over the year, although "moderately" according to Chairman Ilker Ayci.

"From 2018 onwards, we will be seeing our historical growth rates,” he added.

You may also like

Aseman Airlines plane crashes in Iran
19 Feb 2018
Carrying 66 people, Flight EP3704 is reported to have crashed in the Zagros mountains in Iran
Australian regulator approves Emirates-Qantas partnership extension
19 Feb 2018
Final decision expected next month
UAE's first manufactured space satellite transported by Emirates SkyCargo
18 Feb 2018
The satellite was flown from Dubai to Incheon International Airport in South Korea
KPMG partner examines challenges around amending EU aviation legislation
18 Feb 2018
The changes could aid European carriers in competing with third country carriers