Turkish Airlines

Turkish Airlines

Turkish Airlines – Strategic Analysis for 2024

Turkish Airlines has set ambitious strategic targets for 2024 and beyond as part of its 2033 strategy, aiming to significantly grow its operations and financial performance:

  • Achieve consolidated revenue of over $50 billion by 2033, with an EBITDAR margin between 20-25% during 2023-2033
  • Expand fleet to 435 aircraft by 2024 and over 800 aircraft by 2033, while growing passenger network to 400 destinations
  • Double passenger capacity by 2033 vs 2023 with 7% annual growth, servicing 170 million passengers in 2033 compared to over 85 million in 2023
  • Reach 150,000 employees including subsidiaries by 2033
  • Double cargo volume and position Turkish Cargo among the top 3 global cargo carriers by 2033, leveraging the new SmartIST cargo hub
  • Establish low-cost subsidiary AnadoluJet as a separate entity with a fleet of 200 new-generation aircraft
  • Improve customer experience through personalized service, upgraded cabins, loyalty program growth, and top digital capabilities
  • Become a sustainable “carbon neutral” airline by 2050 through new aircraft, sustainable fuels, LEED-certified buildings, renewable energy, and carbon offset projects

In 2024, Istanbul Airport, Turkish Airlines’ main hub, targets 85 million passengers, up from 76 million in 2023. It is now the world’s 3rd busiest airport by number of airlines with 100, and plans to add 5 more in the first half of 2024. New airlines starting Istanbul service in 2024 include Norwegian, Icelandair, Hainan Airlines, ANA, and Delta Air Lines.