Istanbul: Turkish Airlines posted a 2014 net profit that almost tripled on Wednesday and unveiled plans to invest more than $3 billion (Dh11 billion) mostly on its fleet, partly financed by a bond issue in the coming months. Net profit rose to 1.82 billion lira (Dh2.7 billion) from 683 million lira and in line with a Reuters poll forecast of 1.81 billion. Sales rose 29 per cent to 24.1 billion. The airline said it and its subsidiaries planned around $3.74 billion in new investment this year, most of it on increasing its 261 fleet of aircraft. Chairman Hamdi Topcu told a news conference that the company was in the final stages of a planned bond issue to diversify its sources of aircraft financing and that the issue was expected to be completed in the first half of the year.
Turkish Airlines profit almost triples, plans $3b investment
Net profit rose to 1.82 billion lira from 683 million lira and in line with a Reuters poll forecast of 1.81 billion