Turkish Airlines announces its 10-year plan

Turkish Airlines announces its 10-year plan

Turkish Airlines, which has shown growth above the sector average in capacity, passenger numbers, and profitability over the past 20 years, contributing significantly to our country’s economy and employment, is pleased to announce its goals for its 100th anniversary to the public.

🔴The strategic focuses determined within the 2033 vision, which will generate high value for all stakeholders of our partnership, are summarized below:

📍The consolidated revenue of our partnership to exceed 50 billion dollars in 2033,

📍FAVCO (Profit before interest, tax, depreciation, and rent) margin, which shows the cash-generating power of our partnership, to be in the range of 20-25% between 2023-2033,

📍Increase efficiency, maintain financial discipline without disrupting sustainability of our strong financial structure, and create additional income opportunities,

📍To provide 140 billion dollars of added value to our country’s economy by 2033,

📍The number of aircraft, which is expected to reach 435 by the end of 2023, to exceed 800 by 2033, and the number of airports flown to reach 400,

📍Annual passenger capacity to increase by an average of 7% and reach double the 2023 level,

📍The expected passenger number, which is expected to exceed 85 million by 2023, to exceed 170 million by 2033,

📍The number of employees working with all our subsidiaries to reach 150,000,

📍To take advantage of the opportunities offered by SmartIST, one of the world’s largest air cargo terminals, and double the transported cargo compared to 2023, becoming one of the top three cargo airlines in the world,

📍AnadoluJet to be restructured by repositioning the brand, revenue composition, and cost structure to increase competitiveness and to have a fleet of 200 entirely new-generation aircraft,

📍To strengthen customer experience and brand perception:

📍To provide personalized services to our passengers in a integrated and all channels,

📍To complete the cabin transformation and increase flight comfort,

📍To develop Miles & Smiles loyalty program, increase active membership,

📍To develop new projects in the digital transformation field and become one of the three best airlines offering the best digital experience,

📍To be a sustainable airline:

📍To increase the proportion of new-generation aircraft in our fleet,

📍To increase the amount of sustainable aviation fuel used,

📍To increase the number of LEED-certified buildings and the use of renewable energy,

📍To become a “Carbon Neutral” airline by 2050 through carbon balancing projects.

Source: KAP