Türk Hava Yollari Anonim Ortakligi : December 2021
March 01, 2022 at 12:58 am EST
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2021 RESULTS SUMMARY
Key Financial Data
4Q'19
4Q'21
Change
(USD mn)
2019
2021
Change
3.281
3.309
0,9%
Revenue
13.229
10.686
-19,2%
2.708
1.958
-27,7%
Passenger Revenue
11.167
6.390
-42,8%
471
1.281
172,0%
Cargo Revenue
1.688
4.015
137,9%
137
554
304,4%
Net Operating Profit / Loss
585
1.275
117,9%
336
619
84,2%
Profit From Main Operations
876
1.414
61,4%
336
225
-33,0%
Net Income
788
959
21,7%
10,2%
6,8%
-3,4 pt
Net Income Margin
6,0%
9,0%
3,0 pt
892
1.242
39,2%
EBITDAR
3.107
3.744
20,5%
27,2%
37,5%
10,3 pt
EBITDAR Margin
23,5%
35,0%
11,5 pt
Total revenues exceeded 2019 levels in the fourth quarter of 2021 and reached 81% of 2019 levels in 2021.
Cargo revenue almost tripled in the fourth quarter of 2021 and more than doubled in
2021, compared to the same periods of 2019.
Profit from main operations exceeded 2019 level in 2021 and reached 1.414 million USD.
EBITDAR Margin reached 35% in 2021.
2
Revenue Development (4Q'19 vs 4Q'21)
(mn USD)
Pax RASK
Cargo and
(Ex-Currency,
Currency
Other Revenue
Ex-L/F)
Load
(Ex-Currency)
+153
-197
Factor
-327 Volume
+833
-434
2.708
1.958
Passenger (-28%)
471
Cargo (172%)
1.281
102
Other (-31%)
70
∑ 3.281
Total Revenue (1%)
∑ 3.309
4Q'19
4Q'21
Revenue Development (2019 vs 2021)
(mn USD)
Cargo and
Pax RASK
(Ex-Currency,
Currency
Load
Other Revenue
(Ex-Currency)
Ex-L/F)
Factor
+2.316
+373
-365
-1.295
Volume
-3.572
11.167
6.390
Passenger (-43%)
4.015
1.688
Cargo (138%)
374
Other (-25%)
281
∑13.229
Total Revenue (-19%)
∑10.686
2019
2021
Unit Revenue Development
RASK (USc)
18,9%
6,5%
6,77
7,04
6,32
6,46
5,92
6,06
4Q'19
4Q'21
4Q'21 ex-currency
2019
2021
2021 ex-currency
Passenger RASK (USc)
-8,3%
-12,5%
5,75
4,94
5,28
5,95
5,00
5,20
4Q'19
4Q'21
4Q'21 ex-currency
2019
2021
2021 ex-currency
Revenue Yield (R/Y) (Usc)
7,1%
5,2%
7,00
7,02
7,50
7,29
7,37
7,67
4Q'19
4Q'21
4Q'21 ex-currency
2019
2021
2021 ex-currency
Revenue Yield (R/Y) Total Passenger Revenue / RPK
Passenger RASK: Total Passenger Revenue / ASK
5
RASK: Total Passenger and Cargo Revenue / ASK* *ASK value is adjusted for cargo operations adding Cargo Available Ton Km.
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Disclaimer
Turkish Airlines AO published this content on 01 March 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 01 March 2022 05:57:02 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.
TÜRK HAVA YOLLARI ANONIM ORTAKLIGI 
