Turkish Airlines has experienced a challenging 2025, shaped by aircraft delivery delays, capacity constraints from grounded aircraft, and regional conflicts. Yet, the airline is quite happy with the financial results, but recent tensions in the Gulf region are causing uncertainties for 2026.
Turkish Airlines grew revenues by 6.3 percent to $24.1 billion, with passenger revenues from 92 million passengers carried up by 7.4 percent to $19.8 billion. Q4 and the Christmas period were notably strong, with revenues up 12.7 percent year-over-year to $5.1 billion. Full-year cargo revenues dropped three percent to $3.4 billion, but were up again by 3.4 percent in Q4.
While non-fuel costs were down in Q4 thanks to lower personnel costs, they were up for the full year, so the net income dropped by 15.1 percent to $2.9 billion. EBITDAR was down by just 0.6 percent to $5.7 billion. CFO Murat Seker is happy that at 23.7 percent, the operating margin stayed above 23 percent and ahead of the sector’s benchmark.
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