2021 Fourth Quarter Results

Investor Presentation

KEY

1.

2.

3.

4.

TAKEWAYS

SUMMARY

4Q'21

4Q'21

STRATEGY

OF ROBUST

OPERATIONAL

FINANCIAL

AND

RECOVERY

HIGHLIGHTS

HIGHLIGHTS

TARGETS

2

Total Revenue

Cargo Revenue Cash & Liquidity

Passenger

Capacity

Cargo Capacity

Full recovery of 4Q'19

and 81% of 2019

revenue achieved in

2021.

2021 - 2019

4Q'21 - 4Q'19

101%

81%

Cargo Revenue surged

by 138% in 2021

compared to 2019.

mn USD

4.015

1.688

20192021

Cash & Liquidity remains strong with ~2,7 bn USD cash & eq. and over 3 bn USD available credit lines.

mn USD

31 Dec. 2021

2.682

31 Dec. 2020

1.829

84% of 2019 capacity level reached in the fourth quarter of 2021.

84%

Carried cargo tons

exceeded 2019 level by

22%.

000 Ton

1.880

1.544

20192021

Strengthening our position on the back of Turkey's swift tourism recovery

Europe - Top 10 Airlines (2021 vs. 2019)1

International Tourist Arrivals (21/19)2

Ryanair

1321

-43,1%

-11% Turkey

Turkish Airlines

938

-43,9%

Air France

648

-56,5%

-25% Mexico

-31%Spain

Lufthansa

617

-53,6%

EasyJet

607

-49,3%

KLM

502

-44,9%

-65%World

Wizz Air

391

-54,3%

Pegasus

367

-54,8%

Thailand

-94%

-51,5%

SAS

318

Vueling

306

-49,4%

Jan

Feb

Mar

Apr

May

Jun

Jul

Aug

Sep

Oct

Nov

Dec

Mexico

Turkey

Spain

Thailand

World

Turkish Airlines was the busiest network carrier in

Turkish tourism recovered swiftly to almost 2019 levels

European airspace in 2021.

well ahead of its global peers.

1Source: Eurocontrol

2Source: UNWTO

Note: Mexico December data is not available.

4

Turkish Airlines experienced a robust recovery throughout 2021

Recovery through COVID-19 (mn. USD)

3645

3.405

3.309

Revenue exceeded

3145

85%

101%

Q4'19 levels

2645

2.176

2145

1.772

1.796

Revenue

Profit from Main Operations

1645

1.528

68%

% of 2019 Revenue

65%

1145

54%

901

38%

722

619

645

28%

145

75

112

114

-118

-41

-355

Q2'20

Q3'20

Q4'20

Q1'21

Q2'21

Q3'21

Q4'21

4Q'19: 336 mn USD

5

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Turkish Airlines AO published this content on 04 March 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 04 March 2022 09:05:04 UTC.