Turkish Airlines (THY) has announced its financial results for the third quarter of 2025. Despite global economic uncertainties, trade wars, and engine-related issues across the industry, THY achieved the highest third-quarter passenger number in its history, carrying 27.2 million passengers.
During the July–September 2025 period, total revenues increased by 4.9% year-on-year, reaching approximately 7 billion dollars. Passenger revenues rose by 6.1%, parallel to capacity growth. However, due to the decline in unit revenues and cost pressures, operating profit amounted to 1.1 billion dollars. This represents a 21.3% decrease compared to the same period of the previous year.
Prof. Dr. Ahmet Bolat, Chairman of the Board and Executive Committee of Turkish Airlines, made the following remarks regarding the results:
“The profit we achieved in the third quarter of 2025 once again demonstrated Turkish Airlines’ ability to adapt to all operating environments with its diversified revenue structure. As Turkey’s most valuable brand on the international stage, we will continue our growth and investments without interruption in line with our 2033 strategy. Our goal is not only profitability but sustainable success.”
The company’s EBITDA (earnings before interest, taxes, depreciation, amortisation and rent) was recorded at 2.1 billion dollars in the third quarter, with an EBITDA margin of 29.6%. While forward bookings remain strong, THY maintains its full-year EBITDA margin target in the 22–24% range.
Throughout 2025, Turkish Airlines continued to strengthen its international partnerships. The company reached an agreement to acquire minority shares of the Spanish airline Air Europa. This step will support Turkish Airlines’ expansion into the Latin American market and the growth of its flight network between Spain and Turkey.
Turkish Airlines plans to reach a fleet of over 800 aircraft by 2033. As of September 2025, the fleet size increased by 8.4% to 506 aircraft. The company also finalised negotiations with Boeing for a new order covering a total of 225 aircraft (150 firm and 75 optional).
