TURKISH AVIATION - Passenger traffic growth strong in November
Passenger traffic growth strong in November
The General Directorate of the State Airports Authority (DHMI) reported strong growth in passenger traffic in Nov-19, majorly supported by the robust international passenger traffic.
Total passenger traffic in November 2019 moved up by 5.8% y-y (+3.5% y-y in October 2019) to 14.8m, boosted by international passenger traffic which jumped 17% y-y (+15% y-y in October) to 6.8m. Domestic passenger traffic however slipped by 2% y-y (-8% y-y in October) to 8.0m.
We believe that the Turkey airports’ November data highlights the solid performance by the aviation players in terms of passenger traffic. Accordingly, we expect market reaction to be slightly positive for Pegasus Airlines and Turkish Airlines, but neutral for TAV Airports Holdings.
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.
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