THY’s second-quarter revenue increased by 20.5 percent to $7.2 billion. Net profit fell by 71.5 percent to $197 million, while fuel expenses increased.
Turkish Airlines increased its total revenue by 20.5 percent year-on-year to $7 billion 205 million in the second quarter of 2026, supported by growth in passenger and cargo revenues. According to the investor presentation released by the company, rising fuel expenses negatively affected operational profitability, while net profit for the period declined by 71.5 percent to $197 million.
Passenger revenue reached $5.7 billion
THY’s passenger revenue in the second quarter grew by 14.9 percent, rising from $4 billion 938 million to $5 billion 675 million, supported by strong traffic volumes and higher unit revenues.
The number of passengers carried by the company in the second quarter decreased by 0.3 percent to 23.2 million. In contrast, the passenger load factor increased by 1.8 percentage points to 84 percent.
Available seat kilometre capacity increased by 1.2 percent to 68.7 billion, while adjusted RASK, which shows the ratio of total passenger and cargo revenues to capacity, rose by 16.5 percent to 8.93 cents.
Passenger yield increased by 11.1 percent to 9.83 cents.
Cargo revenue increased by 58 percent
THY’s cargo revenue increased by 58 percent in the second quarter, rising from $802 million to $1 billion 267 million.
The company reported that capacity constraints in the global market caused by geopolitical developments supported the increase in cargo revenue.
The amount of cargo carried in the second quarter increased by 11.3 percent to 601 thousand tonnes. The amount of cargo carried in the first six months increased by 13.3 percent to 1 million 157 thousand tonnes.
Technical revenue decreased by 19 percent in the second quarter to $149 million.
Fuel expenses nearly doubled
THY’s total operating expenses in the second quarter increased by 37.3 percent, rising from $5 billion 374 million to $7 billion 379 million.
The highest increase in total expenses was recorded in fuel costs. The company’s fuel expenses increased by 92.9 percent, rising from $1 billion 436 million to $2 billion 770 million.
The share of fuel expenses in total operating costs increased from 26.7 percent to 37.5 percent.
The fuel price per tonne increased by 89.8 percent in the second quarter, rising from $780 to $1,480. THY stated that increases in Brent crude oil prices and refinery margins led to a sharp rise in unit fuel costs.
Personnel and maintenance costs increased
The company’s personnel expenses increased by 21.4 percent in the second quarter to $1 billion 616 million. Personnel expenses accounted for 21.9 percent of total costs.
Maintenance expenses increased by 30.9 percent to $415 million, while ground handling expenses rose by 12.7 percent to $452 million.
Airport and air navigation expenses increased by 8.9 percent to $564 million, while passenger services and catering expenses rose by 7.2 percent to $311 million.
Unit costs excluding fuel increased by 15.7 percent to 6.71 cents. The company reported that slower capacity growth, increased cargo utilisation, and the impact of grounded aircraft equipped with Pratt & Whitney GTF engines raised unit costs excluding fuel.
Operating loss of $64 million
THY posted a profit of $706 million from its core operations in the second quarter of last year, while it reported a loss of $64 million in the same period of 2026.
The company’s EBITDAR decreased by 41 percent, falling from $1 billion 536 million to $906 million. The EBITDAR margin declined from 25.7 percent to 12.6 percent.
EBITDA decreased by 49 percent to $699 million. Rising fuel costs were among the main reasons for the decline in operational profitability.
It was stated that the contribution from the investment portfolio continued to support net profit for the period.
First-half revenue reached $13.1 billion
Turkish Airlines’ total revenue in the first half of 2026 increased by 20.8 percent, rising from $10 billion 867 million to $13 billion 122 million.
Passenger revenue increased by 17.1 percent to $10 billion 387 million in the first half, while cargo revenue rose by 44.1 percent to $2 billion 254 million.
The company’s net profit for the first six months decreased by 34.6 percent, falling from $647 million to $423 million. The net profit margin declined from 6 percent to 3.2 percent.
First-half EBITDAR decreased by 23.9 percent to $1 billion 674 million, while the EBITDAR margin fell to 12.8 percent.
44.5 million passengers carried in the first six months
THY increased the number of passengers carried in the first half of 2026 by 5.5 percent to 44.5 million.
The load factor for the first six months increased by 2.3 percentage points to 83.7 percent. Passenger capacity grew by 5.1 percent to 135.5 billion available seat kilometres.
The strongest increase in unit revenues by geographical region was recorded in the Far East. The region’s adjusted RASK increased by 26 percent in the second quarter, while passenger RASK rose by 22 percent.
Middle East capacity decreased by 48.3 percent in the second quarter due to the impact of geopolitical developments, while passenger yield in the region increased by 22.6 percent.
THY fleet reached 552 aircraft
Turkish Airlines’ fleet reached 552 aircraft as of June 30, 2026. The fleet consists of 146 wide-body passenger aircraft, 378 narrow-body passenger aircraft, and 28 cargo aircraft.
A total of 247 aircraft in the fleet were next-generation models, accounting for 45 percent of the total fleet.
A total of 41 aircraft joined THY’s fleet in the first half of the year, consisting of one Boeing 787-9, two Airbus A350-900s, six Airbus A320neos, seven Airbus A321neos, and 25 Boeing 737-8 MAX aircraft.
Airbus aircraft accounted for 57 percent of the fleet, while Boeing aircraft accounted for 43 percent.
Turkish Cargo reaches 376 destinations
As of June 2026, Turkish Cargo serves 376 destinations in 135 countries by utilising 28 cargo aircraft and the cargo capacity of 524 passenger aircraft.
Turkish Cargo’s share of the global air cargo market increased to 6.9 percent in the first half of 2026.
Cargo operations accounted for 17 percent of the company’s total revenue in the first half. Passenger revenue accounted for 79 percent of total revenue.
