Latest news with #TurkishCargo
Al Bawaba
11 hours ago
- Business
- Al Bawaba
Turkish Cargo Named 'Cargo Airline of the Year – Global' at the 2025 World Air Cargo Awards
Turkish Cargo, the global air cargo brand of Turkish Airlines, has been honored with the 'Cargo Airline of the Year – Global' award at the 2025 World Air Cargo Awards, one of the most prestigious accolades in the air cargo industry. The award ceremony, held on June 3 in Munich, Germany, was part of Air Cargo Europe, the industry's largest gathering of logistics and air freight professionals. The recognition, widely regarded as the 'Oscars' of the air cargo sector, was organized by Air Cargo Week, a leading global publication. Turkish Cargo was selected for this honor through a combination of votes from industry professionals and a comprehensive assessment by an independent jury. The award highlights the carrier's excellence in key categories such as operational performance, customer satisfaction, digital innovation, global network strength, and compliance with international safety standards. Commenting on the achievement, Ali Türk, Chief Cargo Officer at Turkish Airlines, said: 'We are truly honored to be recognized as the 'Cargo Airline of the Year – Global' by such a respected platform. This award is a powerful testament to the strength of our operations, our technology-driven infrastructure, our people-first culture, and our sustainable approach to service delivery. It is the result of a team that moves in unity, acts with responsibility, and creates value together in every condition. I extend my heartfelt thanks to our customers for their trust, to all our colleagues for their dedication, and to the industry stakeholders who deemed us worthy of this recognition.' With a leadership vision validated by international recognition, Turkish Cargo continues to set new standards in global air cargo transportation. Backed by its next-generation cargo hub SMARTIST, advanced digital systems, robust freighter fleet, and a growing network of destinations, the carrier plays an instrumental role in shaping the future of the logistics industry through operational excellence and sustainability-driven innovation.
Web Release
11 hours ago
- Business
- Web Release
Turkish Cargo Named 'Cargo Airline of the Year – Global' at the 2025 World Air Cargo Awards
Turkish Cargo, the global air cargo brand of Turkish Airlines, has been honored with the 'Cargo Airline of the Year – Global' award at the 2025 World Air Cargo Awards, one of the most prestigious accolades in the air cargo industry. The award ceremony, held on June 3 in Munich, Germany, was part of Air Cargo Europe, the industry's largest gathering of logistics and air freight professionals. The recognition, widely regarded as the 'Oscars' of the air cargo sector, was organized by Air Cargo Week, a leading global publication. Turkish Cargo was selected for this honor through a combination of votes from industry professionals and a comprehensive assessment by an independent jury. The award highlights the carrier's excellence in key categories such as operational performance, customer satisfaction, digital innovation, global network strength, and compliance with international safety standards. Commenting on the achievement, Ali Türk, Chief Cargo Officer at Turkish Airlines, said: 'We are truly honored to be recognized as the 'Cargo Airline of the Year – Global' by such a respected platform. This award is a powerful testament to the strength of our operations, our technology-driven infrastructure, our people-first culture, and our sustainable approach to service delivery. It is the result of a team that moves in unity, acts with responsibility, and creates value together in every condition. I extend my heartfelt thanks to our customers for their trust, to all our colleagues for their dedication, and to the industry stakeholders who deemed us worthy of this recognition.' With a leadership vision validated by international recognition, Turkish Cargo continues to set new standards in global air cargo transportation. Backed by its next-generation cargo hub SMARTIST, advanced digital systems, robust freighter fleet, and a growing network of destinations, the carrier plays an instrumental role in shaping the future of the logistics industry through operational excellence and sustainability-driven innovation.
Trade Arabia
02-03-2025
- Business
- Trade Arabia
Turkish Airlines reports record profit of $2.4bn
Turkish Airlines recorded a profit from main operations of $2.4 billion in 2024 despite global geopolitical and economic tensions, bottlenecks in aircraft production, and engine issues, the airline said. It said the group outperformed industry averages in capacity, passenger numbers, and profitability over the past 20 years. Accordingly, the company maintained its consistent profitability under a challenging post-pandemic operating environment, reducing its net debt by $8.3 billion in just three years. Firmly advancing towards its 100th anniversary goals, Turkish Airlines demonstrates its dedication to sharing its success by announcing a cash dividend of $260 million and remains committed to investor returns with its current share buyback programme, it said. Turkish Airlines' total revenues in 2024 increased by 8.2% year-on-year to $22.7 billion. Passenger revenue rose by 4% under intensifying competition, while cargo revenue grew by around 35% compared to 2023. Strengthening Türkiye's position as a global transfer hub through its strategic initiatives and state-of-the-art infrastructure, Turkish Cargo increased its annual cargo volume by over 20%, becoming the world's third-largest air cargo carrier according to data published by the International Air Transport Association (IATA). Representing significant value for the Turkish economy, approximately $18 billion of the company's total revenue was recorded as export revenue while total assets reached around $40 billion, growing 18-fold since 2002. As an indicator of Turkish Airlines' operational cash generation capability, EBITDAR (Earnings Before Interest, Tax, Depreciation, Amortization, and Rent) totalled $5.7 billion with a margin of 25.3%, aligning with the company's long-term targets. Turkish Airlines Chairman of the Board and the Executive Committee Prof Ahmet Bolat stated: 'Turkish Airlines continues to set industry benchmarks with its strong financial performance and strategic growth as showcased by our 2024 results. Despite global challenges, we remain committed to delivering our award-winning service, expanding our global network, while providing long-term value for our investors, employees, and of course our guests. As we move forward towards our 100th anniversary, we take pride in strengthening Türkiye's position as a key player in global aviation and forge ahead on our journey to the top.' Aiming to expand its fleet to more than 800 aircraft by 2033 as part of its 100th Anniversary Strategy, Turkish Airlines increased its number of aircraft by 12% in 2024 to 492, despite bottlenecks in aircraft production. Targeting to minimise costs and currency risks while expanding its modern fleet, the company continued its diversification strategy in aircraft financing and completed a total of $1.8 billion in aircraft financing throughout the year. –
