Turkish Airlines (THY) held its Ordinary General Assembly Meeting with the participation of its shareholders on May 21, 2025, at the company’s headquarters in Istanbul. 

The meeting reviewed the airline’s financial and operational performance for the year 2024, highlighting strong results despite ongoing global challenges.

During the meeting Prof. Dr. Ahmet BOLAT was unanimously re-elected as Chairman of the Board and the Executive Committee. Expressing his gratitude, BOLAT stated that being entrusted with the role once again was both an honor and a great responsibility. He emphasized that Turkish Airlines, drawing strength from its 92-year legacy, would continue its determined efforts to elevate the airline’s national carrier identity to even greater heights.

BOLAT thanked all employees, business partners, and the millions of passengers who placed their trust in Turkish Airlines. He also extended his best wishes to the newly appointed board members, affirming the company’s commitment to its strategic vision and operational excellence.

“We will keep working to take our national flag carrier further to the top of global aviation. I wholeheartedly believe that our shared success is driven by strong teamwork and strategic determination,” BOLAT said in his post-meeting remarks.

The meeting also brought notable changes to the Board of Directors. Fatmanur ALTUN and Hüseyin KESKİN, former General Director of the State Airports Authority (DHMİ), concluded their terms. They were replaced by Gülden NACAR, a private sector executive, and Özgül Özkan YAVUZ, Deputy Minister of Culture and Tourism.

The current top management, including CEO Bilal EKŞİ, will continue in their roles, ensuring continuity in leadership. This decision reflects confidence in the existing team’s ability to sustain the company’s momentum amid a competitive global environment.

Turkish Airlines Marks 92nd Anniversary: “A Brand That Reaches Not Only the Skies but Also Hearts”

Turkish Airlines (THY), Türkiye’s national flag carrier, is celebrating its 92nd anniversary, highlighting a remarkable journey from a modest beginning on May 20, 1933 as a regional airline into a globally recognized aviation brand.

Founded as the “State Airlines Administration” with just 24 personnel and just 5 aircraft, the airline has evolved into a global aviation giant. Today, with a fleet of 479 aircraft and flying to more international destinations than any airline in the world, THY is operating flights to 131 countries worldwide, with 352 destinations, including Türkiye, across 6 continents.

In a commemorative message, Chairman of the Board and Executive Committee Prof. Dr. Ahmet BOLAT described the airline’s journey as a “success story,” paying tribute to the dedication of the THY family and the support of the Turkish nation.

“From our humble beginnings in 1933 with just five aircraft and fewer than 30 employees, we have grown into a global brand with a fleet of nearly 500 aircraft and a team of 95,000 people. Today, Turkish Airlines holds the distinction of flying to the most countries worldwide,” said BOLAT.

He added, “On the occasion of our 92nd anniversary, we take pride not only in reaching the skies, but also in touching hearts. Turkish Airlines is more than just an airline—it is an ambassador of Türkiye’s vision, hospitality, and determination to the world.”

Looking ahead, THY CEO BOLAT reiterated the company’s ambition to be at the top of the aviation industry by 2033, when the airline will celebrate its 100th anniversary. “We aim to connect with even more destinations and turn every journey into a unique experience. I wholeheartedly believe this vision will become reality through the faith and efforts of the Turkish Airlines family,” he said.

In his closing remarks, BOLAT extended his gratitude to all past and present employees for their contributions and expressed hope for many more successful years together.

Meanwhile, Turkish Airlines shared a celebratory message across its official social media channels:

“92 years in the skies... We’ve flown with pride, passion, and determination. You were with us on every journey. Here’s to many more years together!”

The airline’s institutional evolution has paralleled Türkiye’s modern aviation history. Incorporated into the Ministry of Transport in 1938 and renamed the “General Directorate of State Airlines,” it officially became “Turkish Airlines” in 1953.

Turkish Airlines’ first international flight took place in 1947 on the Ankara–Istanbul–Athens route. The airline expanded rapidly through Europe and the Middle East, and by 1985, it had launched long-haul operations with Airbus A310 aircraft, flying to the Far East and across the Atlantic.

In 2012, Turkish Airlines earned a Guinness World Record for flying to the most countries—a title it reaffirmed in December 2023 with the launch of flights to Chile. As of March 2025, the airline employs 7,652 pilots and pilot trainees and nearly 16,000 cabin crew.

Looking ahead, Turkish Airlines is targeting 813 aircraft and 171 Million passengers annually by 2033, under its long-term strategic growth plan. The airline’s 2025 expansion roadmap includes potential new routes to:

• Abha (Saudi Arabia)

• Aswan (Egypt)

• Makhachkala (Russia)

• La Coruña (Spain)

• Lankaran (Azerbaijan)

• Nantes (France)

• Port Sudan (Sudan)

• Atyrau (Kazakhstan)

• Haro and Samalkot (Pakistan)

• Phnom Penh (Cambodia)

These destinations will be phased in based on fleet availability and market demand.

Back in 1983, Turkish Airlines celebrated its 50th anniversary with a fleet of only 30 aircraft and 2.5 Million passengers. The growth over the past four decades has been extraordinary—a testament to the airline’s strategic vision and Türkiye’s expanding global reach.

THY Reports April 2025 Traffic Statistics

On May 5, 2025 National Flag Carrier of Türkiye, Turkish Airlines (THY), which celebrates its 92nd anniveray, has released its traffic statistics for April 2025, demonstrating continued strong growth and performance on both international and domestic routes. 

According to consolidated April 2025 Traffic Results (including both Turkish Airlines main brand and AJet data) that disclosed through the Public Disclosure Platform (KAP), the airline welcomed a total of 7.4 Million guests during the month, up 5.6% compared to 7 Million passengers in April 2024. According to a statement issued by the airline’s Press Office, the number of international-to-international guests welcomed onboard increased by 19.6% to 2.9 Million from 2.4 Million in the same period of 2024. The strong passenger traffic in April 2025, particularly the robust growth in international traffic compared to the same period last year, also indicates a continued recovery in passenger traffic. 

The airline recorded a passenger load factor (L/F) of 83.2% in April, which is 2.3 points  higher than the same period of 2024. The load factor for international and domestic routes stood at 82.3% and 83.5%, respectively. The total volume of Available Seat Kilometers (ASK), which was 20.3 Billion in April 2024, increased by 7% to 21.7 Billion for the same period of 2025. These figures highlight THY's strong growth and operational efficiency. In April 2025 cargo-mail volume of the airline increased by 5.5% from April 2024, totaling 171.6 Thousand tons. 

According to consolidated April 2025 Traffic Results by the end of April 2025, the number of aircraft in the fleet was 476. In its December 2024 Traffic Results, the airline had disclosed that the number of aircraft in its fleet, which took delivery of its 400th aircraft on February 24, 2023 and carried its 1 Billionth passenger in April, reached 492 aircraft by the end of December 2024.

The airline’s April 2025 Traffic Results also included the traffic results for the January – April 2025 period. The data indicates a continued growth trend across key performance indicators, reflecting the airline’s resilience and strategic focus on operational excellence.

According to the results:

• The total number of passengers increased by 3.3%, rising from 25.5 Million in the January–April 2024 period to 26.3 Million in the same period of 2025.

• The number of international-to-international transfer passengers saw a strong 8.1% growth, reaching 10.8 Million, up from 10 Million in the same period of 2024.

• The passenger load factor improved by 0.7 percentage points, reaching 81.3%. This includes 81.1% on international routes and 82.8% on domestic routes.

• Available Seat Kilometers (ASK) increased by 5%, from 78.7 Billion to 82.7 Billion, highlighting the airline’s expanding capacity.

• A total of 652.5 Thousand tons of cargo and mail were carried during the period, marking a 2% increase compared to the 639.9 Thousand tons recorded in the same period last year.

Turkish Airlines Reports Net Loss in Q1 2025

Turkish Airlines (THY), the national flag carrier of Türkiye, has announced a net loss of 1.81 Billion TL (approx. $47 Million) for the first quarter of 2025, reversing a profit of 6.93 Billion TL posted during the same period last year.

The financial results, covering the period from January 1 to March 31, were submitted to the Public Disclosure Platform (KAP) on April 28, 2025. Despite the net loss, sales revenue rose by approximately 20% year-on-year, reaching 176.7 Billion TL ($4.6 Billion), up from 147.2 Billion TL ($3.83 Billion) in Q1 2024.

While the market had anticipated a net profit of around 500 million TL, several cost-related pressures contributed to the unexpected loss:

• Personnel expenses surged by 44.6% in USD terms, increasing from 1.0 Billion Dollar to 1.35 Billion Dollar, equivalent to 12.1 Billion TL at current exchange rates.

• Financial expenses rose by 36.3%, reaching 16.17 Billion TL.

• The company’s fuel costs, which account for nearly 30% of total expenses, may see improvement in coming quarters due to a 20% annual decline in oil prices.

The balance sheet as of March 31, 2025, shows:

• Total equity: 717.3 Billion TL (18.7 Billion Dollar)

• Total debt: 817.5 Billion TL, marking a 13.6% increase compared to end-2024

The company closed the full year of 2024 with a record net profit of 113.3 Billion TL (2.95 Billion Dollar). Despite the loss, exchange rate dynamics may work in favor of the airline. Currently, 38.3% of THY’s revenues are in USD, while 47.3% of its expenses are also USD-denominated. The depreciation of the dollar following the Trump-era tariffs and a stronger euro are seen as potentially positive developments. However, the same tariffs may lead to a contraction in cargo revenues