Turkish Airlines Q3 2025 Results: Breaks Passenger Records, Profit Drops

Turkish Airlines has released its third-quarter 2025 financial results, showing solid revenue growth and record passenger numbers despite rising costs and pressure on profitability.

The airline reported total revenues of about $6.95 billion, up 4.9 percent from the same period last year.

Meanwhile, net income declined 10.7 percent to $1.4 billion compared to the same period in 2024, reflecting broader industry headwinds such as supply chain disruptions and engine maintenance shortages.

The earnings per share (EPS) reached $1.47, reflecting a decrease from $1.97 per share in the same period the previous year.

Turkish Airlines carried a record 27.2 million passengers during the quarter (the highest third-quarter total in its history), extending its growth streak to 18 consecutive quarters.

Passenger capacity expanded by 8.2 percent year-over-year, placing it 43 percent above pre-pandemic levels, while passenger revenues grew 6.1 percent thanks to strong global travel demand and strategic capacity increases.

However, profitability came under pressure. Operating profit dropped 21.3 percent to $1.1 billion, mainly due to higher costs, including fuel, maintenance, and inflation-linked expenses, as well as lower unit revenues.

For the first nine months of 2025, Turkish Airlines generated $17.8 billion in revenue, a 4.5 percent increase from a year earlier.

The airline posted EBITDAR of $2.1 billion in the quarter with a 29.6 percent margin and anticipates its full-year EBITDAR margin guidance between 22 and 24 percent.

In August 2025, Turkish Airlines received acceptance of its binding offer to acquire a minority stake in Air Europa, the Spanish airline, for nearly $350 million. The carrier will buy 26–27 percent of Air Europa's equity, with the exact share percentage yet to be finalized.

Photo by Kevin Hackert on Unsplash