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Türkiye’s flag carrier, Turkish Airlines, announced on Friday its financial results for 2024, reporting a consolidated net profit of ?113.4 billion ($3.1 billion) for the year.
The airline’s revenue surged 48% year-on-year to ?745.4 billion, while gross profit increased 20% to ?142.9 billion. Earnings before interest, taxes, depreciation, and amortization (EBITDA) rose 18% to ?136.2 billion.
Net monetary position gains saw a 70% rise, reaching ?78 million, while shareholders' equity grew 10% to ?679.8 billion.
Meanwhile, net debt declined 2% to ?275.9 billion, and the company’s total assets expanded 3% to ?1.4 trillion. Fixed assets increased 4% to ?1.057 trillion, while current assets edged up 1% to ?341.9 billion.
Despite strong revenue growth, Turkish Airlines' net profit fell 30% compared to 2023, when it had recorded a total profit of ?163 billion.
The company is set to propose a per-share cash dividend of 5.851449% from its 2024 earnings for approval at its General Assembly.
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