Turkish Airlines (THY) is planning to increase its fleet to 450 aircraft by 2023, while it also expected to boost revenue by 17% this year to $11.4bn and hit $24bn in revenue by 2023. THY posted a 19% increase in revenue last year to $9.8bn but net profit dropped 46% to $357 million.
From 2019, the airline will be able to capitalize on its strategic location aided by the opening of the new Istanbul airport. Temel Kotil stated that the carrier was able to grow so quickly thanks to its position between Europe and the Middle East, between Europe and Africa and Europe and Asia.
Kotil said he predicts revenue growth from the Middle East of between 15 to 20%.