Turkish Airlines’ profits down as fuel costs almost double in second-quarter

Turkish Airlines experienced a significant decline in profitability during the second quarter, resulting in an operating loss of $64 million due to dramatically increased fuel expenses. Fuel costs nearly doubled, primarily driven by the impact of the Iran conflict and its subsequent effects on global markets. Despite this substantial increase, Turkish Airlines reported strong revenue gains over the same period, indicating robust demand for air travel. The Star Alliance carrier’s performance was negatively affected by these escalating operational costs. Analysts attribute the situation to external geopolitical factors influencing energy prices and their direct consequences on airline finances.