Important Information and Occurrences at Turkish Airlines
The first Turkish Airlines flight took off in May, 1933, a few short years before the Second World War. The beginning of the operation was anything but impressive as they only had 4 planes that could carry a maximum of 23 people. They did not add another aircraft to their fleet until 1945. The airline has ordered twelve of the most advanced long-haul, heavy aircraft in the world, namely the Boeing 777-300ER, one of which they have already received. Thanks to their route expansion strategy, the airline has seen climbing profits over the past five years. It certainly seems that Turkish Airlines has learned many lessons since their early days of flying less than twenty five passengers at a time.
There were also seven accidents reported in the years from 1974 to 1983, as well as multiple serious events. But Turkish Airlines turned their fortunes around in the late 80s, as the government took a stand to influence their future. Since the beginning of the new century, Turkish Airlines has seen a consistent rise in profits and popularity, which indicates a positive future is really on the horizon.
Last year, 2010, was a banner profit year for Turkish Airlines as they reported a 9M net profit of 169 million USD. Their sales revenue saw a substantial increase, by 39%, closing out at 5 billion USD. With the intent of increasing revenue generated by business class passengers, the company is building a fleet that will consist of long-haul aircraft, specifically the Boeing 777-300ER. The airline also plans to use wide-body jets to transport cargo internationally. The figures from last year were unexpected but certainly welcomed. Perhaps that is fueling the fire as the airlines has been very active with marketing their brand, world-wide. The objective of the airline is to expand their Asian operations as well as to establish themselves on the US market.
Throughout the latter part of 2010, Caroline Wozniacki, ranked the world’s number one ranked women’s tennis player, signed an interesting deal with Turkish Airlines.
As a result of diversifying their strong marketing efforts, Turkish Airlines have been able to reap the benefits.
Most businesses understand this basic business principle. Unfortunately, not all businesses tend to spend their profits quite as effectively as Turkish Airlines effort to reinvest in their own growth. So not only does it make the airline stronger, but it allows for passengers to benefit as well.
