Türkiye’s flag carrier, Turkish Airlines (TH/THY) has reported a strong third quarter for 2025, achieving record passenger numbers and maintaining its long-term growth trajectory despite ongoing industry challenges.
The carrier’s total revenues rose by 4.9% year-on-year to around USD 7 billion in the third quarter, with passenger revenues increasing by 6.1% on the back of robust demand and higher capacity. Profit from main operations stood at USD 1.1 billion, bringing total profit for the first nine months of 2025 to USD 1.7 billion.
During the July–September period, the airline carried 27.2 million passengers, the highest third-quarter total in its history, as capacity rose by 8.2% compared with the same period in 2024. Passenger capacity has now climbed 43% above pre-pandemic levels, marking 18 consecutive quarters of growth.
Consolidated assets reached USD 43.2 billion, while total employment across Turkish Airlines and its subsidiaries surpassed 101,000. Investments in the first nine months of 2025 totalled USD 3.6 billion, supporting the airline’s 2033 strategic targets.
Commenting on the results, Prof. Ahmet Bolat, Chairman of the Board and Executive Committee, said: “The profit we achieved in the third quarter of 2025 once again underscored Turkish Airlines’ adaptability under a wide range of operational conditions through its diversified revenue structure. As Türkiye’s most valuable brand on the international stage and a global leader in the aviation sector, we will continue to grow and invest in line with our 2033 strategy. Our focus goes beyond profitability – we are committed to achieving long-term and sustainable success.”
EBITDAR, a measure of operational cash generation, was reported at USD 2.1 billion with a margin of 29.6%. With strong October traffic results, including a 19% rise in passenger numbers and 16% growth in cargo volumes, Turkish Airlines expects to close 2025 with an EBITDAR margin in the range of 22–24%, consistent with its long-term targets.
The airline also continued to expand its commercial partnerships during the quarter, signing several new codeshare agreements and securing a minority stake in Spain’s Air Europa. The partnership aims to strengthen connectivity between Türkiye and Spain, boost tourism flows, and open new routes to Latin America.
As part of its fleet renewal and expansion plans, Turkish Airlines increased its aircraft count by 8.4% year-on-year to 506 aircraft as of September 2025. The airline also finalised major orders with Boeing for up to 75 widebody B787-9/10 Dreamliners and 150 narrowbody B737-8/10 MAX aircraft, enhancing operational flexibility and passenger comfort.
Looking ahead, Turkish Airlines said it remains on course to expand its fleet to more than 800 aircraft by 2033 as it continues to pursue sustainable growth under its Centennial Strategy.