Logotype for Türk Hava Yollari Anonim Ortakligi

Türk Hava Yollari Anonim Ortakligi (THYAO) investor relations material

Türk Hava Yollari Anonim Ortakligi Q2 2025 earnings summary

Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
Logotype for Türk Hava Yollari Anonim Ortakligi
Q2 2025 earnings summary6 Aug, 2025

Executive summary

  • Total revenues increased 5.6% year-over-year in Q2 2025, driven by strong passenger demand, while cargo revenues declined due to global trade softness.

  • Net income for Q2 was $690M, down 25–27% year-over-year, mainly due to currency effects and higher tax expenses, despite operational profit growth.

  • Passenger capacity rose 7% year-over-year, surpassing pre-pandemic levels by 50%, with over 23 million passengers and an 82% load factor in Q2.

  • Direct sales ratio increased by 16 points, reducing distribution costs and saving $30M in Q2.

  • Recognized as Europe's best airline for the tenth time and received awards for sustainability-linked financing and business class catering.

Financial highlights

  • EBITDAR margin in Q2 2025 was 25–26%, up over 1 point year-over-year.

  • Profit from main operations exceeded $700M, up nearly 20% year-over-year.

  • Free cash flow more than doubled year-over-year to $1.2B in the quarter; liquidity increased to $7.7B.

  • Net debt to EBITDA was 1.2x, reflecting strong deleveraging and expected to remain stable by year-end.

  • Fuel expenses dropped 9.5% year-over-year in Q2, offset by a 22% rise in personnel costs.

Outlook and guidance

  • 2025 revenue guidance maintained at 6–8% growth; EBITDAR margin expected at 22–24%.

  • Annual passenger capacity growth target raised to 7–8%, with over 91 million passengers targeted.

  • Fleet size projected at 520–525 by year-end, with further growth planned through 2027.

  • Ex-fuel unit cost increases expected to normalize to low single digits in 2025 as inflation moderates.

  • New international routes launched, expanding the network to 353 destinations in 131 countries.

Partial view of Summaries dataset, powered by Quartr API
Research faster. Power your platform.

Next Türk Hava Yollari Anonim Ortakligi earnings date

Logotype for Türk Hava Yollari Anonim Ortakligi
Q3 20257 Nov, 2025
Your earnings 
season toolkit.
Download
Free on both iOS & Android.

Next Türk Hava Yollari Anonim Ortakligi earnings date

Logotype for Türk Hava Yollari Anonim Ortakligi
Q3 20257 Nov, 2025

The essential earnings season companion

The #1 app for live earnings calls, transcripts, analyst estimates, and more. All for free.

Live calls and transcripts

Listen to earnings calls, CMDs, investor conferences, and more – with a podcast-like experience.

Find what you need faster

Search for any keyword across all transcripts simultaneously.

Easily store key findings

Capturing important takeaways is as simple as it gets. Even during your lunch run or commute.

Your watchlist. Your dashboard.

Follow the companies that matter to you. Get a personalized feed with real-time updates.

Be the first to know

Set keyword alerts for any company, product, or competitor. Get notified the moment they're mentioned.

Consensus estimates

Access analyst consensus estimates, valuation multiples, and revenue segments splits.

All IR material in one place

The easiest way to stay updated during earnings season.

Global coverage

All events from public companies. Live and recorded.

Just click and listen

No webcast links. No manual registrations.

Research anytime, anywhere

Built for professionals. Loved by everyone. Try our free mobile app.

excellent app, it gives me free access to company earnings calls and annual reports. I also love the convenience of calls being available offline so I can listen in whilst doing other things and even when internet or WiFi isn't available.
App-store-avatar.png play-store-avatar.png
Leroy DaleyApp Store
One of the very few apps you could call perfect. If something was to add to it, maybe the share price of the company when you search for it, but it's already excellent.
play-store-avatar
Eferix Drawings Google Play
This is genuinely one of the cleanest and fastest finance apps out there to track the market.
App-store-avatar.png play-store-avatar.png
anuj283App Store
excellent app, it gives me free access to company earnings calls and annual reports. I also love the convenience of calls being available offline so I can listen in whilst doing other things and even when internet or WiFi isn't available.
App-store-avatar.png play-store-avatar.png
Leroy DaleyApp Store
One of the very few apps you could call perfect. If something was to add to it, maybe the share price of the company when you search for it, but it's already excellent.
play-store-avatar
Eferix Drawings Google Play
This is genuinely one of the cleanest and fastest finance apps out there to track the market.
App-store-avatar.png play-store-avatar.png
anuj283App Store
I can't remember the last time an app had such a positive impact on my investment process.
x-avatar
@ankurshah47_ x.com
Love the app! Quartr makes it really easy to keep track of earnings calls. It also includes the reports and slides to make it easier to follow along.
App-store-avatar.png play-store-avatar.png
Amina0781App Store
Quartr is amazing, no way around it. It is the best right now for earnings calls, presentations, and the like.
x-avatar
@theshortbearx.com
I can't remember the last time an app had such a positive impact on my investment process.
x-avatar
@ankurshah47_ x.com
Love the app! Quartr makes it really easy to keep track of earnings calls. It also includes the reports and slides to make it easier to follow along.
App-store-avatar.png play-store-avatar.png
Amina0781App Store
Quartr is amazing, no way around it. It is the best right now for earnings calls, presentations, and the like.
x-avatar
@theshortbearx.com

Frequently asked questions

Türk Hava Yollari Anonim Ortakligi, commonly known as Turkish Airlines, is a Turkey-based company providing passenger and cargo air transportation services both domestically and internationally. The company operates under two main business segments: Air Transport (Aviation), which encompasses domestic and international passenger and cargo transportation, and Technical Maintenance Services, which includes aircraft repair, maintenance, and technical support. Additionally, Turkish Airlines offers catering, aviation ground handling services, and is involved in training, airport operations, and the manufacturing and trading of cabin interior accessories and aircraft seats. Turkish Airlines is headquartered in Istanbul, Turkey, and its shares are listed on the Borsa Istanbul.

Quartr provides global coverage of all investor relation material from public companies.

  • Mobile app: Research anytime, anywhere with the #1 app for live earnings calls, transcripts, analyst estimates, and more. All for free.

  • Desktop (Quartr Pro): The leading platform for qualitative research, used daily by top firms and financial institutions.

  • Quartr API: Build custom solutions powered by live earnings calls, live transcripts, filings and reports, slide presentations, and more.

Yes, the Quartr mobile app is free on both iOS and Android.

Yes. Quartr provides global, industry-leading live coverage of company events such as regular earnings calls, capital markets days, M&A announcements, and investor conferences. Live with zero delays. Just click and listen.

Yes, capturing important takeaways is as simple as it gets. Even during your lunch run or commute.

Yes. Follow the companies that matter to you. Get a personalized feed with real-time updates, a tailored earnings calendar, and instant alerts when earnings calls go live.

Yes. Set keyword alerts for any company, product, or competitor. Get notified the moment they're mentioned, regardless of who's talking.

Explore our global coverage