Turkish Airlines Reports $423 Million First-Half Net Income

Turkish Airlines reported a net income of $423 million for the first six months of 2026, representing a 34.6 percent decline year-on-year. This drop was primarily driven by a surge in fuel expenses, which totaled $4.32 billion in the first half, a 55.1 percent increase.

Total revenue for the period grew 20.8 percent to $13.1 billion, supported by a 17.1 percent increase in passenger revenue to $10.4 billion and a 44.1 percent jump in cargo revenue to $2.25 billion. In the second quarter specifically, net income fell 71.5 percent to $197 million, while quarterly fuel costs rose 92.9 percent to $2.77 billion.

Despite these pressures, the carrier achieved its highest second-quarter passenger load factor in company history at 84% and expanded its fleet by 14% to 552 aircraft by June 2026. The EBITDAR margin for the second quarter reached 12.6%, exceeding the 8% initial guidance.

Looking forward, the company expects a third-quarter EBITDAR margin between 20% and 25% due to strong demand. Executive Murat Şeker attributed the company's stability to its ability to manage challenging periods caused by geopolitical developments in the Middle East and rising fuel prices.