Turkish Airlines records a loss of $ 113.4 million

Turkish Airlines announced today, Wednesday, that it recorded a net loss of 946 million liras (113.4 million dollars) during the third quarter of this year, compared to 3.71 billion liras during the same period last year.
And Bloomberg News reported that the Turkish company recorded losses of 5.2 billion pounds during the first nine months of this year, compared to profits of 2.59 billion pounds during the same period last year.The Turkish company’s sales during the third quarter decreased by 51% annually to 11 billion liras.

It is reported that airlines around the world are suffering from losses and deteriorating financial conditions as a result of the repercussions of the emerging Corona virus pandemic, which has prompted most countries of the world to impose severe restrictions on movement and travel, which has seriously affected the aviation industry.

The International Air Transport Association (IATA) said last month that airlines in the world are losing about $ 418 million daily, calling on governments to provide more support to the global aviation industry.

The federation said that “it expects the losses of the aviation industry in the world to reach 77 billion dollars during the second half of this year on the basis of the continued weakness of global travel due to the restrictions imposed to limit the spread of the new Corona virus.”

“Airlines usually accumulate cash in them in the mid-year high season, but in the current year companies’ losses continued during that period,” said the CEO of the International Air Transport Association, Alexander Juniac, in a press conference in Geneva, Switzerland.