Turkish Airlines' net income rises to $959M in 2021

By Tuba Sahin

ANKARA (AA) – Turkish Airlines posted a net profit of $959 million in 2021, a 21.7% rise from 2019, before the onset of the coronavirus pandemic, the national flag carrier said on Tuesday.

The revenue reaped hit $10.7 billion last year, down 19.2% from 2019, Turkish Airlines said in a statement sent to Turkiye's Public Disclosure Platform (KAP).

The company's revenue from cargo operations more than doubled during the same period, which amounted to over $4 billion in 2021 versus $1.7 billion in 2019.

Turkish Airlines saw a $1.27 billion net operating profit last year, while profit from main operations exceeded the 2019 level to reach $1.4 billion.

The airline's earnings before interest, taxes, depreciation, amortization, and rent jumped 10% from pre-pandemic period to $3.7 billion in 2021.