Industry Developments in 2023

The aviation industry, a vital pillar supporting trade, business, and tourism, sustained its post-pandemic recovery momentum throughout 2023. After incurring a cumulative loss of approximately 182 billion USD during the 2020-22 period due to Covid-19 pandemic, the industry recorded a net profit of 27.4 billion USD in 2023. Despite facing geopolitical and macroeconomic headwinds following a crisis of this magnitude, achieving profitability within just three years is a testament of the industry’s remarkable resilience. 

In 2023, the industry’s total revenue reached 908 billion USD, surpassing-pandemic levels by 8%, while the total number of passengers recorded was %1 below the 2019 level. The International Air Transport Association (IATA) forecasts that global passenger numbers will grow by 10% to 4.9 billion in 2024, marking the highest level in the industry’s history.

Turkish Airlines’ Position in the Global Aviation Industry

Despite the challenging operational environment in the industry, Turkish Airlines continued its operations uninterruptedly thanks to its agility and highly skilled workforce preserved during the pandemic. As one of the fastest recovering airlines on a global scale, Turkish Airlines maintained its growth trajectory in 2023, increasing its passenger capacity by 16% compared to the previous year and surpassing 2019 levels by 25%. As a result, Turkish Airlines climbed to 3rd place among network carriers worldwide and to the top position in Europe, with a 3.5% share of the international passenger market in terms of Available Seat Kilometers. During this period, our Incorporation carried 83.4 million passengers, 12% 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, along with Turkish Airlines’ unmatched global network Turkish Cargo also became the world’s fourth largest air cargo carrier in terms of cargo ton kilometers in 2023.