Turkish Airlines reported a net loss of approximately $47 million in the first quarter of 2025, reversing a profit from the same period last year.
The company disclosed its financial results for the period from January 1 to March 31 in a filing with the Public Disclosure Platform. The loss amounted to 1.8 billion Turkish lira, compared to a profit of 6.9 billion lira in the first quarter of 2024.
For the full year of 2024, Turkish Airlines had reported a net profit of 113.3 billion lira, or about $2.95 billion.
Revenue for the first quarter of 2025 reached 176.7 billion lira, or approximately $4.6 billion, reflecting a 20 percent increase from 147.2 billion lira, or around $3.83 billion, in the same quarter last year.
The company also reported total equity of 717.3 billion lira, equivalent to roughly $18.7 billion.
The figures are based on an exchange rate of 38.44 lira to 1 US dollar as of April 29.