Last 6.85 TRY
Change Today -0.02 / -0.29%
Volume 17.3M
As of 10:39 AM 08/29/14 All times are local (Market data is delayed by at least 15 minutes).

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10/22/13 - 8.44
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12/27/13 - 5.52
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turk hava yollari ao (THYAO) Details

Türk Hava Yollari Anonim Ortakligi is engaged in the air transportation of passengers and cargo in Turkey and internationally. It operates through two segments, Air Transportation and Aircraft Technical Maintenance Operations. The company provides passenger and cargo air transportation services; and repair and maintenance service to civil aviation sector, as well as various technical and infrastructure support related to airline industry. It is also involved in training and airport operations. As of February 11, 2014, the company had a fleet of approximately 230 passenger and cargo aircraft covering a total of 243 destinations worldwide. Türk Hava Yollari Anonim Ortakligi was founded in 1933 and is headquartered in Istanbul, Turkey.

Founded in 1933

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turk hava yollari ao (THYAO) Key Developments

Turkish Airlines Announces Consolidated Earnings and Production Results for First Half of 2014; Provides Production Guidance for the Full Year of 2014

Turkish Airlines announced consolidated earnings and production results for first half of 2014. For the period, the company reported net profit increased 28.6% to $88 million. Revenue increased 15.3% to $5.22 billion in the first-half. Operating profit decreased 48.3% to $106 million burdened by an 18.3% rise in operating costs to $5.12 billion. The company reported, first-half passenger traffic rose 16.8% year-on-year to 26.2 million and a 14.6% rise in passenger revenue to $4.62 billion. The company expects its full-year passenger traffic to reach 59.5 million. It serviced 48.3 million passengers in 2013. The company has revised down its fleet plan by five narrow-body aircraft to 262 aircraft by the end of the year. It expects a 16% year-on-year capacity growth in its cargo business in the fourth quarter and positive demand in both the passenger and cargo businesses in the second half.

Turkish Airlines Cuts 2 Daily Israel Flights

Turkish Airlines has cancelled two out of the 7-8 daily flights it operates between Ben Gurion Airport and Istanbul between August 18 and the end of October for operational reasons. Turkish Airlines announced that due to a shortage of pilots it is hiring 200 Iranian pilots. The pilots are unlikely to be put on Israel-bound flights but will almost certainly be flying some connection flights.

U.S. Department of Transportation Fines Turkish Airlines over Late, Incomplete Responses to Consumer Complaints

The U.S. Department of Transportation assessed a civil penalty against Turkish Airlines for not responding in a timely manner to complaints filed by consumers, including passengers with disabilities, and for not adequately responding to the passengers complaints in its responses. The airline was ordered to cease and desist from further violations and assessed a civil penalty of $300,000. When consumers file complaints with airlines, they deserve prompt and complete responses that appropriately answer their specific concerns. The Department’s Aviation Enforcement Office found that since August 2011, Turkish Airlines failed to provide timely responses to a large number of consumer complaints and several disability-related complaints that the Department’s Aviation Consumer Protection Division received directly from consumers and forwarded to the airline. In addition, Turkish Airlines did not assure the Department that it provided substantive responses to the larger amount of complaints that it received directly from consumers. Under DOT rules, airlines must acknowledge that they received written complaints regarding scheduled service within 30 days of receipt of the complaint and provide a substantive written response to the complaint within 60 days. Airlines are also required to provide a written dispositive response to a written complaint alleging a violation of the Air Carrier Access Act, which provides that no airline may discriminate against any otherwise qualified individual with a disability, within 30 days of receipt of the complaint. To be dispositive, the response must discuss the complaint at issue, admit or deny whether the airline believes that a violation occurred under the circumstances, summarize the facts that led the airline to its conclusion of whether or not a violation occurred, and advise the complainant of his or her right to refer the matter to the Department for an investigation.


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