The market worth of Turkish Airlines reached 191.3 billion Turkish liras ($10.26 billion), exceeding that of the German flag service Lufthansa whose worth is €9.28 billion ($9.73 billion).
The share worth of the Turkish flag service, which was at 20.02 Turkish liras ($1.54) on Dec. 31, 2021, jumped by 592.3% to 138.6 Turkish liras ($7.43) on Monday.
The USD/TRY change charge was at 13 on the finish of final 12 months and 18.64 on Monday.
On the opposite hand, the share worth of Lufthansa soared by 25.7% from the start of this 12 months.
While Turkish Airlines shortly overcame the unfavourable monetary results of the COVID-19 pandemic and elevated its earnings very strongly in 2022 due to its strikes on a world scale, Lufthansa’s post-pandemic restoration was not straightforward.
As of the third quarter of the 12 months, Turkish Airlines’ whole revenues, $6.1 billion, exceeded its whole revenues in the identical interval of 2019 by 52%, whereas air cargo revenues elevated by 110% to roughly $880 million over the identical interval.
The agency’s web revenue was $1.5 billion within the third quarter.
While the pandemic triggered a significant disaster for the worldwide aviation trade, the Lufthansa Group, which additionally owns Eurowings, Swiss, Brussels and Austrian Airlines, got here to the purpose of chapter.
The governments of Switzerland, Austria and Belgium, and particularly the German authorities, saved the corporate from chapter by offering a €9 billion bailout bundle in 2020.
Due to the decline in passenger demand in the course of the pandemic, it was troublesome for airline corporations to boost funds by capital improve.
With passenger demand recovering, Lufthansa Group raised €2.14 billion in October 2020 to pay again part of the general public rescue bundle.
On the opposite hand, Lufthansa Group introduced working revenue for the primary time within the pandemic disaster within the third quarter of 2021, as flight demand elevated following the lifting of world journey restrictions.
