Turkish Airlines outlines strategic targets for the next 10 years

Increasing fleet, doubling passenger capacity & decarbonisation
2023-04-29
/
/ New Delhi
Turkish Airlines outlines strategic targets for the next 10 years

Turkish Airlines says that it aims to become a carbon neutral airline by 2050 through the implementation of carbon emission offsetting projects

On the occasion of its 90th anniversary and in line with its vision for 2033, when it will turn 100, Turkish Airlines has shared its strategic focus areas for the next 10 years that aim to generate significant value.
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One of the fastest growing airlines in the world, Türkiye’s national carrier Turkish Airlines has made significant contributions to the nation’s economy and set a global footprint with accelerating progress over the years. In a press statement, Turkish Airlines says that in the past 20 years, it has outperformed the industry average in terms of capacity, passenger numbers, and profitability to become one of the fastest-growing airlines in the world currently. On the occasion of its 90th anniversary and in line with its vision for 2033, the year when Turkish Airlines completes 100 years, the airline has shared its strategic focus areas for the next 10 years that aim to generate significant value.

The airline says that achieving consolidated revenue of over USD 50 billion by 2033 as well as attaining an EBITDAR margin between 20 pc and 25 pc during 2023-2033 are top priorities. It also aims to improve efficiency, maintain cost discipline and create new opportunities to generate additional revenues in order to sustain strong financial performance. The airline plans to contribute USD 140 billion of added value to Türkiye‘s economy by 2033 and expand its fleet to 435 aircraft by 2023 and to over 800 aircraft by 2033 and growing its passenger network to 400 destinations.

The statement adds that a major focus will be doubling its current passenger capacity by 2033 with an annual average growth rate of 7 pc and servicing 170 million passengers by 2033 compared to over 85 million in 2023. Positioning Turkish Cargo among the top three cargo carriers globally by 2033 by doubling the transported cargo volume and establishing low-cost arm AnadoluJet as a separate subsidiary are also under strategic targets.

The airline says that by providing customised service, enhanced digital experience and completing cabin transformation are some of the measures it will take to improve customer experience and brand recognition.

It adds that becoming a sustainable airline is another key aspect of its 10 years strategic plan. Increasing the number of new generation aircraft, expanding the consumption of sustainable aviation fuel as well as increasing the number of LEED certified buildings to boost renewable energy usage are some of its target measures towards sustainability. Turkish Airlines says that it aims to become a carbon neutral airline by 2050 through the implementation of carbon emission offsetting projects.

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