Turkish Airlines marked a strong 2022 reporting a net profit of $2.7bn attributing the success to "its operational agility, wide flight network and highly skilled workforce it maintained during the coronavirus pandemic," the airline said in a statement.
The company reaped a record-high revenue of $18.4 billion last year, exceeding its 2019 pre-virus level by 39%.
Turkish Airlines carried around 72 million passengers with an 85.8% domestic and 80.1% international load factor in 2022 and just at 3% below pre-pandemic levels. Going ahead, the airline maintained its effective cost management strategy by lowering its unit expenses excluding fuel by 2% compared to 2019.
The airline's earnings before interest, taxes, depreciation, amortization, and rent (EBITDAR) amounted to $5.4 billion.
Turkish Airlines cargo revenues surged to $3.7 bn, a rise of 120% compared to 2019 levels.
Quadrupling its market share in the air freight market in the last 10 years, Turkish Cargo ranked fifth among the world's top air cargo carriers, according to 2022 data by the International Air Transport Association.
Turkish Airlines saw an increase of 24.8% in travel demand on its network to the Middle East, 19% to Africa, and 16.8% for the far east, as compared to pre-pandemic levels.
The carrier has continued its fleet growth, up 20 aircraft from last year, now with a fleet-size of 394 aircraft as of December 31, 2022. The airline took delivery of 13 A321neos, three A320neos, and eight Boeing 737 MAX 8, in addition to one Boeing 787-9 and the six ex-Aeroflot A350-900s.
The airline also provided thousands of relief flights to earthquake affected areas of Turkey providing cargo, aid and evacuation flights.