Turkish Airlines managed to contain first-quarter operating losses to $72 million, a substantial improvement on the $300 million loss for the same period last year.
The airline even generated a $61 million net profit for the first three months.
Turkish Airlines’ revenues for the quarter remained down by 29% at just under $1.8 billion.
Although passenger revenues were still 55% below the levels for the comparable period last year, the deficit was partly offset by a 77% rise in cargo revenues.
Fuel expenditure dropped by 47% and personnel costs fell by 38%, contributing to an overall one-third reduction in operational expenses to $1.87 billion.
Turkish Airlines introduced another pair of Airbus A350s over the quarter, taking its total of the type to four.
Its overall fleet comprised 106 long-haul and 231 single-aisle aircraft, plus 25 freighters.
