Turkish Airlines Announces Its Strategic Plan For Next 10 Years

Date

4/19/2023 4:49:28 AM

(MENAFN- The Peninsula) The Peninsula

Doha: Founded in 1933 with a modest fleet of 5 aircraft, Türkiye's national airline, Turkish Airlines, has secured its place on global stage with its accelerating growth year after year. In particular, over the last 20 years, it has achieved an extraordinary growth performance in capacity, passenger numbers, and profitability, outperforming the industry average and becoming one of the most important players in global Aviation today.

With its impressive growth performance, Turkish airlines has made significant contributions to the country's economy and employment and shared its goals for the 100th anniversary of its establishment with public.

Determined in line with its vision for 2033, the strategic focus areas that aim to generate significant value for the national flag carrier's stakeholders are as follows: Achieving consolidated revenue of over $50bn by 2033; attaining an EBITDAR margin between 20% and 25% during 2023-2033; improving efficiency, maintaining cost discipline and creating new opportunities to generate additional revenues in order to sustain the airline's strong financial performance, contributing $140bn of added value to Türkiye's economy by 2033, expanding the fleet to 435 aircraft by 2023 and to over 800 aircraft by 2033; expanding the passenger network to 400 destinations; doubling the passenger capacity in 2023 by 2033 with an annual average growth rate of 7%; servicing 170 million passengers by 2033 compared to over 85 million in 2023; reaching 150 thousand employees including its subsidiaries; doubling the transported cargo volume and positioning Turkish Cargo among the top three cargo carriers globally by 2033; leveraging the capabilities of its cargo hub, SmartIST, which is currently one of the largest air cargo terminals in the world; establishing the airline's low-cost arm AnadoluJet as a separate subsidiary; repositioning its brand, restructuring its revenue and cost structures, and reaching a fleet size of 200 new generation aircraft to strengthen its competitive positioning.

Commenting on the announced goals, Turkish Airlines Chairman of the Board and Executive Committee, Prof. Dr. Ahmet Bolat said;“Being able to grow from our humble beginnings of 90 years ago into one of the world's leading airlines is a great honor for us.

Today, Turkish Airlines, a 90-year-old giant, is in our view a dynamic and young adult, actively continuing its development. Yes, our journey is still very long, and as our country's national airline, we consistently implement and set our short, middle and long-term goals on this adventure where we reach all four corners of the world.

We are happy to share our goals that will significantly contribute to our country's economy and development in the next 10 years by declaring our strategic planning for our 100th anniversary, which we will celebrate 10 years from now.

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