Turkish Airlines Q2 cargo revenue down 44%

Cargo revenue for the first half of 2023 declined 42% to $1.2 billion, total revenue was up 25% at $9.5 billion

Turkish Airlines Q2 cargo revenue down 44%
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Turkish Airlines reported a 44 percent decline in cargo revenue at $600 million for the second quarter ended June 30, 2023 compared to $1.1 billion in Q22022 "due to decelerating global trade and earthquake impact." Revenue, however, was 53 percent higher compared to the 2019 level.

Revenue for the first half of 2023 declined 42 percent to $1.2 billion from $2 billion in the same period last year, according to an official release.

Total revenue increased 14 percent to $5.1 billion in the second quarter, and the first half revenue was up 25 percent at $9.5 billion. Q22023 net income increased 10 percent to $635 million and 18 percent increase to $868 million in the first half of the year.

Turkish Cargo flies to 136 countries/363 destinations with 24 freighters (10 A330-200F, eight B777F and six aircraft on wet lease) and 400 passenger aircraft.

In May, Turkish Cargo ranked third among all air cargo carriers in terms of freight tonne kilometres, according to IATA.

In February 2022, Turkish Cargo combined all cargo operations in its new hub Smartist, one of the largest air cargo facilities in the world.

Cargo carried in July 2023 declined 2.4 percent to 142,474 tonnes compared to 145,984 tonnes in July 2022. For the first seven months of 2023 (January-July), cargo carried declined eight percent to 890,344 tonnes.

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