BGC Partners: THYAO 3Q19 Earnings Review: IN LINE
Turkish Airlines reported a net profit of TL3,707mn (-6% YoY) in 3Q19, in line with market consensus of TL3,632mn, but slightly better than BGC estimate of TL3,433mn… EBITDA (including IFRS 16 impact) came in at TL5,817mn (US$1,028mn, -12% YoY in US$ terms), slightly lower than market consensus of TL6,234mn, but in line with BGC estimate of TL5,825mn.Turk Hava Yollari is engaged in the airline industry with the airline flying to 103 destinations, throughout Turkey and internationally. As of the year end, Co. maintains 66 aircrafts with a total seat capacity of 10,672, and leases a A300-200 cargo aircraft. Co. has various services for their customers which include: various ways of checking in and on-line ticket sales.
BGC has been one of the major market players in Turkish OTC debt, FX and swaps markets since 1998.
We started offering corporate finance and investment banking services to our clients in 2013. We offer a complete range of financial services to help our clients achieve their goals. Our main areas of activity within investment banking are as follows:
- Mergers & Acquisitions
- Equity Capital Markets
- Debt Finance & Advisory
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