Türk Hava Yollari Anonim Ortakligi : 2022 - 2Q Earnings Call Presentation
August 15, 2022 at 09:24 am EDT
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2022 Second Quarter Results
Investor Presentation
KEY
1.
2.
3.
4.
TAKEWAYS
SUMMARY
2Q'22
2Q'22
STRATEGY
OF 2Q'22
OPERATIONAL
FINANCIAL
AND
HIGHLIGHTS
HIGHLIGHTS
TARGETS
2
Total Revenues
Passenger
Revenue
Cargo Revenue Cash & Liquidity Ex-Fuel CASK
43% higher revenue
achieved in 2Q'22
compared to the same
period in 2019.
mn USD
4.535
3.181
2Q'19 2Q'22
Passenger revenue
surpassed 2Q'19 levels
by 25% as recovery gained momentum.
mn USD
3.375
2.696
2Q'19 2Q'22
Cargo revenue more than doubled in 2Q'22 compared to 2Q'19.
mn USD
1.064
393
2Q'19 2Q'22
Liquidity remains strong with ~4.3 bn USD Cash & Eq. at hand.
mn USD
30 Jun. 2022
4.316
31 Dec. 2021
2.682
Ex-Fuel unit costs
decreased by 11% in 2Q'22 compared to the same period in 2019.
USc
4,754,23
2Q'192Q'22
Successful capacity ramp up continues while preserving operational reliability
Quarterly Passenger Capacity
Quarterly Capacity
10-20%
5-15%
12%
-9%
Full recovery
2019 level
91%
1Q'22
2Q'22
3Q'22
4Q'22
2019 ASK in %
Exeeding 2019 Capacity (bn)
Europe Flight Cancellations
1.7%
1.5%
1.2%
0.5%0.6%
April
May
June
Europe
Turkish Airlines
Europe On Time Performance
(OTP+15)
IGA Istanbul Airport
76%
59%
Istanbul (Sabiha)
75%
65%
Rome (FCO)
73%
52%
London (LHR)
63%
45%
Amsterdam
62%
48%
Frankfurt
60%
36%
Paris (CDG)
58%
36%
1st Jan. - 9th Aug.
July
Capacity in the third and fourth quarter will be above
Our flight cancellation rates were lower than the
2019 levels.
European average in April and May.
On time performance of the two airports in Istanbul outperformed major European peers.
Note: Cancellation rates are calculated according to Eurocontrol definition by dividing number of cancellations before the
day of departure (t-1) to total number of planned flights. June figure is yet to be published.
4
Source: Eurocontrol.
Recovery is clearly visible across the board
Passenger Capacity
(ASK bn)
Capacity (ASK bn)
46,1
51,8
25,9
2,0
2Q'19
2Q'20
2Q'21
2Q'22
Total Revenue
Total Reve(mnueUSD)(mn USD)
4.535
3.181
2.176
901
2Q'19
2Q'20
2Q'21
2Q'22
Passenger Demand
(RPK bn)
Demand (RPK bn)
37,0
41,3
16,2
1,4
2Q'19
2Q'20
2Q'21
2Q'22
Profit from Main Operations
Profit from(mnMainUSD)Operations
(mn USD)
530
114
15
2Q'19 2Q'20 2Q'21 2Q'22
-118
Passenger capacity exceeded 2Q'19, while L/F and PAX reached to 2019 levels.
Total Revenue surpassed 2Q'19 by 43%
owing to recovery in passenger traffic and continuing strength in cargo.
Profitability in the second quarter recorded well above pre-pandemic levels.
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Turkish Airlines AO published this content on 15 August 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 15 August 2022 13:23:10 UTC.
Turk Hava Yollari AO is a Turkey-based company, which provides passenger and cargo air transportation services. It operates under following business segments: Air Transport (Aviation), which consist of mainly domestic and international passenger and cargo air Transportation, as well as Technical Maintenance Services (Technical), which consist of mainly aircraft repair and maintenance services and providing technical and infrastructure support related to aviation sector. Its subsidiaries include: THY Teknik AS, engaged in aircraft maintenance services, as well as THY Ucus Egitim ve Havalimani Isletme AS, engaged in training and airport operations. The Company serves all domestic destinations as well as the Middle East, North America, Europe, Asia, North Africa and South Africa.