In the fourth quarter of 2025, Total Revenues increased by 12% year-over-year to reach $6.3 billion, while Total Revenues for the entire year exceeded $24 billion.
The Core Operating Profit for the fourth quarter increased by 23% compared to the previous year to $534 million, while the 2025 Core Operating Profit was $2.2 billion.
The 2025 EBITDA (Earnings Before Interest, Depreciation, Taxes, and Rent) margin exceeded the mid-range of the long-term target, reaching 23.7%.
Consolidated assets were $46.6 billion, while the total employment of the Partnership, including all subsidiaries, exceeded 101,000.
The value of investments made throughout the year as part of the Partnership’s strategic goals was around $6 billion. Thus, the total value of investments made available to our country over the last 5 years was recorded as approximately $20 billion.
Despite geopolitical developments, the successful January and February operations indicate that the 2026 EBITDA margin is expected to be within the long-term Partnership target range of 22-24%.
Turkish Airlines, the network carrier with the most flights in Europe, continued its stable growth in 2025 despite geopolitical tensions, trade wars, and economic uncertainties that affected the aviation sector, as well as aircraft delivery and engine supply problems. In response to the bottleneck in aircraft production, the Partnership increased its fleet by 5% year-over-year to 516 by the end of 2025 and celebrated its “second 500” period with 92.6 million passengers and 2.2 million tons of cargo, achieving the highest operational results in its history.
In 2025, Turkish Airlines’ total revenues increased by 6.3% year-over-year to $24.1 billion, driven by the strong contribution of passenger operations. Passenger revenues increased by 7.4%, driven by strong international and premium segment demand.
Cargo revenues were offset by a 16.6% increase in cargo volume, resulting in a total cargo revenue of $3.4 billion. Despite ongoing inflation-related cost pressures and engine problems, the Partnership’s 2025 Core Operating Profit was recorded as $2.2 billion.
Evaluating the 2025 results, Turkish Airlines Board of Directors and Executive Committee Chairman Prof. Dr. Ahmet Bolat said, “Despite a challenging and unpredictable operating environment, our financial success in 2025 once again demonstrated our ability to adapt to rapidly changing commercial and geopolitical conditions thanks to our diversified revenue structure.
Our investments and strategic partnerships implemented throughout 2025, in line with our long-term value creation goal, have become milestones that contribute to the Partnership’s progress towards its 100th-year vision, further expanding our global impact.”
In 2025, Turkish Airlines’ operational cash generation power, measured by EBITDA, was recorded as $5.7 billion, while the EBITDA margin exceeded the mid-range of the target set at the beginning of the year, reaching 23.7%. The strong performance at the end of 2025 is expected to continue in the first months of 2026, with the 2026 EBITDA margin anticipated to be within the long-term Partnership target range of 22-24%.
Turkish Airlines, which successfully closed 2025, continues to be a brand that leads the sector with its unique flight network, modern fleet, superior service understanding, and successful performance, proudly waving our flag among the giants of air transportation. In the coming years, our contribution to the sustainable growth of the aviation sector will continue to increase in line with our country’s development targets and our 100th-year strategy.
