Turkish Airlines has reported growth in the third quarter of the current year, increasing total revenues by 4.9 pc year-on-year to USD 6.6 billion. 

In a press statement, Turkish Airlines says that passenger revenues have contributed USD 5.6 billion, with strong demand from the Far East playing a significant role. 

The statement adds that Turkish Cargo also surged, achieving a 47 pc revenue increase to USD 911 million and ranking as the third-largest global air cargo carrier in September with a 5.7 pc market share, as per International Air Transport Association (IATA) data.

The statement adds that despite the pressures of rising global inflation, competitive passenger unit rates, and engine supply issues, Turkish Airlines recorded USD 1.3 billion in operating profit. 

Its EBITDAR margin reached 35.2 pc, boosted by dynamic portfolio management and strategic financial measures.

It says that as part of its 100th Anniversary Strategy, the airline grew its fleet by 9 pc to 467 aircraft in the first nine months of 2024, aiming for a fleet size of 800 by 2033. 

Turkish Airlines also became the first airline outside of China to finance Airbus A350s in Yuan and secured a sustainability-linked loan for A321-Neo aircraft, signalling a move toward sustainable finance.

Turkish Airlines has also announced ongoing plans to expand and modernise its fleet and services in line with its 2033 objectives.