Sales revenues of Turkish Airlines (THY), Turkey's state-run air carrier, rose 28 percent to reach 3.6 billion Turkish liras (approx. USD 1.97 billion), according to a consolidated fiscal budget data for Q1.
THY said its real operating loss was 83 million TL (approx. $45.6 million) with a 59 percent recovery from Q1 2012, and its operating loss was 23 million TL (approx. $12.63 million) which marked a 87 percent recovery from a year earlier.
The company said its Q1 net loss also performed better than the previous year, down 22 percent to 22 million TL (approx. $12.08 million).
THY said Q1 financial results were negative due to seasonal effects, adding, however, strong recovery in Q1 boded well that the 2013 year-end financial results will be better than those of 2012.