ATW Daily News

Turkish Airlines' reports soaring profit

Monday November 17, 2008

Turkish Airlines posted a third-quarter net profit of approximately $197.3 million, based on a Friday statement cited by Reuters and ATWOnline calculations. The result is more than double the $88.3 million earned in the third quarter of 2007. THY reported earnings of TRY668 million ($405.3 million) through the first nine months of 2008, a 244% year-over-year improvement, according to the news service. The third-quarter result is assumed from THY's $208 million first-half profit (ATWOnline, Sept. 1). Nine-month sales increased 24% year-over-year to TRY4.42 billion. "The Turkish airline sector will continue to grow. Because of the successful performance during this period, our company's expectation for 2008 is positive," THY said.

It also announced that flights from Istanbul Ataturk to Nairobi and Lviv will launch next year.

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