Despite crisis, THY profit jumps more than threefold

Turkish Airlines' (THY) net profit skyrocketed 327 percent in 2008 over 2007, hitting TL 1.13 billion, the company announced yesterday. THY's consolidated financial statement for 2008, sent to the Istanbul Stock Exchange (IMKB), said the airline's income from sales increased last year, too, with a more modest 26 percent rise to TL 6.1 billion. The number of aircraft in its fleet also rose, from 102 at the beginning of the year to 127 at the end. Parallel to its investments and new destinations, the number of passengers flying THY increased by 15 percent to 22.5 million last year. The amount of cargo carried by THY planes also rose 8 percent to 203,000 tons. Seventy-eight percent of the airline's revenues from scheduled services came from international flights, while the remaining 22 percent was earned from domestic routes.