Industry Developments in 2024

The aviation industry, a key pillar supporting trade, business, and tourism, recorded a 35 billion USD profit in 2023 after suffering a cumulative 182 billion USD loss between 2020-22 due to the severe impact of the pandemic. In 2024, geopolitical and economic tensions, along with supply chain bottlenecks and engine-related issues in aircraft manufacturing, put pressure on industry profitability, bringing net profit down to 31.5 billion USD.

In 2024, the industry’s total revenue reached 965 billion USD, surpassing-pandemic levels by 15%, while the total number of passengers recorded was 7.3% above the 2019 level. The International Air Transport Association (IATA) forecasts that global passenger numbers will grow by 6.7% to 5.2 billion in 2025, marking the highest level in the industry’s history.

Turkish Airlines’ Position in the Global Aviation Industry

Over the past 20 years, Turkish Airlines has achieved growth above the industry average in terms of capacity, passenger numbers, and profitability making significant contributions to the Turkish economy and employment. Despite the challenging operating environment, Turkish Airlines remains as one of the most successful carriers globally, due to its operational agility and extensive flight network. In 2024, Turkish Airlines increased its passenger capacity by 8% compared to the previous year, surpassing 2019 levels by 35%. As a result, Turkish Airlines ranked 4^th among global network carriers and 1^st in Europe, with a 3.4% share of the international passenger market in terms of Available Seat Kilometers. During this period, Turkish Airline carried 85.2 million passengers, 15% more than in 2019, reaching a new milestone

Leveraging the capabilities of SMARTIST, one of the world’s largest air cargo facilities at Istanbul Airport, Turkish Cargo became the world’s third largest air cargo carrier in terms of cargo ton kilometers in 2024.