CEO Kotil: Turkish Airlines must double in size by 2020
By Kurt Hofmann | October 17, 2012
Turkish Airlines (TK) needs to double in size by 2020, CEO Temel Kotil told ATW.
TK, which is about to take delivery of its 200[SUP]th[/SUP] aircraft—its ninth Boeing 737-900ER—has opened 32 new routes this year, but needs to increase frequencies from 1,000 to 2,000 flights per day by 2020. “Otherwise our network will suffer,” he said.
TK will fly to 180 international and 35 domestic destinations by year end. In 2013, it plans to grow to 197 international and 36 domestic destinations.
TK is targeting 38.2 million passengers this year, up from 32.6 million in 2011. Transfer traffic at its Istanbul Ataturk hub (IST) should rise to nearly 8 million this year from 6.2 million in 2011.
“Ratio-wise, our long-haul fleet should increase,” Kotil said. TK ordered 15 Airbus A330-300s earlier this month for delivery between 2014-2016 (ATW Daily News, Oct. 8).
Kotil said TK’s future fleet could include the Airbus A380 and Boeing 747-8I, “but they are not on the [front burner] right now.” He declined to give details about possible future orders, but said the carrier is also looking at the Airbus A330 and Boeing 777. “By 2020, TK should have 400 aircraft,” he said.
Next year, TK will take delivery of one 737-900ER, six 737-800s, nine A321-200s and two A330-200Fs. In 2014, 10 additional aircraft will join the fleet, with five to follow in 2015.
Kotil expects TK’s operating profit to grow this year from $159 million in 2011.
“Next year doesn’t look difficult,” he said. “If you are making a profit, you can play with the company. Growing [within our IST hub] is easy ... As we pass the critical [geographical] mass, we can do whatever we want,” Kotil said.
http://atwonline.com/airline-finance-data/news/ceo-kotil-turkish-airlines-must-double-size-2020-1017
By Kurt Hofmann | October 17, 2012
Turkish Airlines (TK) needs to double in size by 2020, CEO Temel Kotil told ATW.
TK, which is about to take delivery of its 200[SUP]th[/SUP] aircraft—its ninth Boeing 737-900ER—has opened 32 new routes this year, but needs to increase frequencies from 1,000 to 2,000 flights per day by 2020. “Otherwise our network will suffer,” he said.
TK will fly to 180 international and 35 domestic destinations by year end. In 2013, it plans to grow to 197 international and 36 domestic destinations.
TK is targeting 38.2 million passengers this year, up from 32.6 million in 2011. Transfer traffic at its Istanbul Ataturk hub (IST) should rise to nearly 8 million this year from 6.2 million in 2011.
“Ratio-wise, our long-haul fleet should increase,” Kotil said. TK ordered 15 Airbus A330-300s earlier this month for delivery between 2014-2016 (ATW Daily News, Oct. 8).
Kotil said TK’s future fleet could include the Airbus A380 and Boeing 747-8I, “but they are not on the [front burner] right now.” He declined to give details about possible future orders, but said the carrier is also looking at the Airbus A330 and Boeing 777. “By 2020, TK should have 400 aircraft,” he said.
Next year, TK will take delivery of one 737-900ER, six 737-800s, nine A321-200s and two A330-200Fs. In 2014, 10 additional aircraft will join the fleet, with five to follow in 2015.
Kotil expects TK’s operating profit to grow this year from $159 million in 2011.
“Next year doesn’t look difficult,” he said. “If you are making a profit, you can play with the company. Growing [within our IST hub] is easy ... As we pass the critical [geographical] mass, we can do whatever we want,” Kotil said.
http://atwonline.com/airline-finance-data/news/ceo-kotil-turkish-airlines-must-double-size-2020-1017
