Turkish Airlines turns profitable despite Middle East war
Turkish Airlines turned profitable in the first quarter of 2026, driven by a rise in passenger volume despite the Middle East conflict.
The airline reported net income of $226 million in the quarter ended March 31, compared to a net loss of $44 million a year earlier.
Total revenue surged 21 percent year on year to $5.9 billion, as passenger revenue rose 20 percent and cargo revenue climbed 30 percent, the flag carrier said in an investor presentation.
The number of passengers carried rose 13 percent to 21.3 million between January and March, compared to 18.9 million a year earlier.
Available seat kilometres — the passenger-carrying capacity of an airline — to the Middle East fell 9 percent in the quarter, primarily as the Iran war led to airspace closure across the GCC.
Fuel expenses rose 15 percent to $1.5 billion over the three-month period, accounting for a quarter of all costs.
As of March, Turkish Airlines flew to 132 countries across 305 destinations worldwide, with 28 freighters and 500 passenger aircraft, according to the statement. Of its planes, 42 percent are new-generation aircraft, split 58:42 between Airbus and Boeing. The airline owns 33 percent of its fleet.
The airline will resume flights to Damascus, Beirut and Amman at the beginning of May, the state-run Anadolu news agency reported.
The routes were suspended from February 28, following US-Israeli strikes on Iran.
Further reading:
- Turkish Airlines passenger volume jumps despite war
- Etihad keeps flight prices low despite surging jet fuel
- Full airline operations some way off unless Iran war ends
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