According to Turkish Airlines’ recently disclosed strategic plan, the carrier expects to transport 170 million passengers and run more than 800 aircraft by 2033, effectively quadrupling in size during the following ten years.
Since the pandemic, the Star Alliance carrier has experienced a significant increase in activity, with 2018 ending with 39% more revenue than 2019 and 7% more capacity than 2018.
Turkish Airlines anticipates having a fleet of approximately 800 aircraft by 2033.
To commemorate its 100th anniversary, Turkish Airlines has devised a 10-year strategy to increase its revenue from $18.4 billion in 2022 to over $50 billion by 2033. Its EBITDAR margin target for the next 10 years is between 20% and 25%. Last year, the airline achieved a record profit of $29.1 million, with an EBITDAR margin of 29%.
The expansion plan calls for a doubling of passenger capacity at a yearly average growth rate of 7%. If this occurs, the expected annual passenger volume will increase from 85 million this year to 170 million in 2033.
The airline plans to triple its fleet size to facilitate this. At the end of 2022, there were 394 aircraft in the airline fleet. It is anticipated that there will be 435 aircraft in the fleet by the end of the year, with that number increasing to “over 800” by 2033. Cirium Fleets reports that the airline has 72 planes on order, and CFO Murat Seker stated in March that the company would be “placing a large order book” after finalising its 10-year strategy.
The strategic plan calls for AnadoluJet’s low-cost division to double in size to 200 aircraft. As the year came to a close, the fleet contained 64 aircraft. In addition, Turkish reaffirms its intention to spin off the airline as a wholly-owned subsidiary, with the stated aim of “repositioning its brand, restructuring its revenue and cost structures.”
Turkish Airlines also intends to expand its cargo division over the next decade. More than twenty percent of Turkish Airlines’ revenue in 2022 was derived from cargo sales.
“Today, Turkish Airlines, a 90-year-old giant, is a dynamic young adult, actively continuing its development. Yes, our journey is still very long. As our country’s national airline, we consistently implement and set short, middle and long-term goals on this adventure where we reach all four corners of the world,” said Ahmet Bolat, chairman of Turkish Airlines.
” We are happy to share our goals that will significantly contribute to our country’s economy and development in the next ten years by declaring our strategic planning for our 100th anniversary, which we will celebrate ten years from now.”
Sydney was listed as a “future route” in a Turkish Airlines investor presentation from September 2022, alongside other significant cities such as Rio de Janeiro and Santiago.
The Star Alliance member had desired to begin service to Sydney since at least 2015, when CEO Temel Kotil made the announcement; however, the start date was put back to 2018 and 2019.
The long-range aircraft of Turkish Airlines require a transit in Asia; the airline has proposed Kuala Lumpur, Jakarta, and Bali. With the new aircraft the airline plans to acquire between now and 2033, it will be able to provide uninterrupted service from Istanbul to Australia.