ISTANBUL (CIHAN) - THY has announced its financial results for January-March 2004, regulated according to the International Financial Reporting Standards (UFRS). According to the figures, THY during this period had a total turnover of 600 trillion Turkish Liras and a net loss of 87 trillion TL.
The occupancy rate of THY planes during this period was 65 percent, while the rate during the same period of 2003 was 59 percent. The number of passengers during January-March 2004 rose by 20 percent to 2.5 million people compared with the number of passenger during the same period of 2003 which was 2.1 million people.
The number of passengers during the first five months of 2004 rose by 26 percent from 3.5 million to 4.4 million compared with the same period in 2003.
The losses during the first three months of 2004 were declared to be due to the near 30 percent decrease in the prices of domestic air tickets and the 10 percent decrease in the prices of foreign air ticket from January 2004. The decrease in the foreign exchange rate was also deemed to be a contributing factor.