Turkish Airlines Reports $197 Million Profit Amid Rising Costs

Aug 10, 2026

65 min

Aug 10, 2026 17:30

Turkish Airlines makes $197m profit as Middle East war hits costs

## Financial Performance

Turkish Airlines achieved a net profit of $197 million in the second quarter of 2026, despite challenges from geopolitical tensions in the Middle East and increased fuel expenses. The airline's revenue grew by 20.5% to $7.2 billion, driven by strong passenger and cargo demand.

## Impact of Middle East Conflict

The ongoing conflict in the Middle East has significantly affected the airline's costs, particularly through delayed impacts on jet fuel prices. Despite these pressures, Turkish Airlines managed to exceed its EBITDAR margin guidance, achieving 12.6% compared to the expected 8%.

## Cargo and Passenger Demand

Turkish Cargo experienced a substantial boost, with revenues rising 58% to nearly $1.3 billion and volumes increasing by 11.3%. The airline's strategic location and robust cargo infrastructure have enabled it to capitalize on global air freight demands. Passenger load factor also reached a record high of 84% for the second quarter, with notable demand from Asia, Europe, and Africa.

## Fleet Expansion and Future Outlook

The airline expanded its fleet by 14% to 552 aircraft by the end of June, investing $3.1 billion in strategic growth. Despite production bottlenecks, Turkish Airlines continues to add capacity, anticipating that strong demand will counterbalance rising fuel costs. The airline forecasts an EBITDAR margin of 20% to 25% for the third quarter.

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