Turkish Airlines Sets A Course To The Future
As it prepares for the next decade, Turkish Airlines has released details of its strategic plan for the next 10 years.
Founded in 1933 with a modest fleet of five aircrafts, Turkish Airlines has secured its place on the global stage, with accelerating growth year after year. Over the last two decades, Türkiye’s flagship carrier has achieved extraordinary growth in capacity, passenger numbers and profitability, and has outperformed the industry average to become one of the most important players in global aviation today.
As Turkish Airlines makes significant contributions to the country’s economy and employment, the flagship carrier has shared its goals for its 100th anniversary in 2033.
Determined in line with its vision for 2033, the strategic focus areas that aim to generate significant value for the national flag carrier’s stakeholders include:
- Achieving consolidated revenue of over US$50 billion by 2033
- Obtaining an EBITDAR margin between 20% and 25% during 2023-2033
- Improving efficiency, maintaining cost discipline and creating new opportunities to generate additional revenues in order to sustain the airline’s strong financial performance
- Contributing US$140 billion of added value to Türkiye’s economy by 2033,
- Expanding the fleet to 435 aircraft by 2023 and to over 800 aircraft by 2033; expanding the passenger network to 400 destinations
- Doubling the passenger capacity in 2023 by 2033 with an annual average growth rate of 7%
- Servicing 170 million passengers by 2033 compared to over 85 million in 2023
- Reaching 150 thousand employees including its subsidiaries
- Doubling the transported cargo volume and positioning Turkish Cargo among the top three cargo carriers globally by 2033; leveraging the capabilities of its cargo hub, SmartIST, which is currently one of the largest air cargo terminals in the world
- Establishing the airline’s low-cost arm AnadoluJet as a separate subsidiary; repositioning its brand, restructuring its revenue and cost structures, and reaching a fleet size of 200 new generation aircraft to strengthen its competitive positioning
The carrier is also intent on improving the passenger experience and brand recognition by:
- Providing each passenger a customized service across all service channels
- Completing cabin transformation to enhance in-flight experience
- Growing further Miles & Smiles loyalty program and increasing the number of active members
- Ranking among the top 3 airlines globally in providing the best digital experience by implementing new projects in digital transformation
And it also plans to become a sustainable airline by:
- Increasing the number of new generation aircraft in the fleet
- Increasing the consumption of sustainable aviation fuel
- Expanding the number of LEED certified buildings to boost renewable energy usage
- Becoming a “Carbon Neutral” airline by 2050 through the implementation of carbon emission offsetting projects
Turkish Airlines Chairman of the Board and Executive Committee, Prof. Dr. Ahmet Bolat observed that: “Being able to grow from our humble beginnings of 90 years ago into one of the world’s leading airlines is a great honor for us. Today, Turkish Airlines, a 90-year-old giant, is in our view a dynamic and young adult, actively continuing its development.
He continued: “Yes, our journey is still very long, and as our country’s national airline, we consistently implement and set our short, middle and long-term goals on this adventure where we reach all four corners of the world. We are happy to share our goals that will significantly contribute to our country’s economy and development in the next 10 years by declaring our strategic planning for our 100th anniversary, which we will celebrate 10 years from now.”
And he added that: “As a member of this beautiful institution, which is Türkiye’s most well-known global brand in the international community, we assure that we are walking confidently towards our goal of becoming the world’s best airline company, and thus, we will continue to make our nation proud for many more long years. We wish our 2033 goals, which we announced, to be auspicious for all.”
Go to www.turkishairlines.com for more.