Türk Hava Yollari Anonim Ortakligi (TKHVY) Q4 2025 Earnings Call Transcript

SA Transcripts158.89K FollowersFollow5ShareSaveCommentsPlay Earnings CallPlay Earnings Call Türk Hava Yollari Anonim Ortakligi (TKHVY) Q4 2025 Earnings Call March 5, 2026 8:00 AM EST Company Participants Murat Seker - CFO & Executive DirectorMehmet Korkmaz - Head of Investor Relations Presentation Operator Ladies and gentlemen, welcome to Turkish Airlines Fourth Quarter 2025 Earnings Call. We will have a Q&A session following the presentation. [Operator Instructions] With that, I will now leave the floor to our hosts, Associate Professor Murat Seker, he's the Member of Board and the Executive Committee as well as Chief Financial Officer; Mehmet Fatih Korkmaz, the Head of Investor Relations. Gentlemen, the floor is yours. Murat SekerCFO & Executive Director Thank you, Rob. Good afternoon, everyone, and thank you for joining us. 2025 passed with a rapidly changing and at times, rather volatile operating environment for the global airline industry. While passenger demand remained mostly supportive, airlines across the world navigated geopolitical and macroeconomic uncertainties along with aircraft delivery delays and engine reliability issues. These dynamics carried over to the new year with extremely heightened geopolitical tensions in the Middle East adding a further layer of uncertainty to the operating landscape. In this environment, Turkish Airlines leveraged its diversified business model and flexible operating structure. These capabilities have been repeatedly tested in recent periods by various external shocks. And each time, they enabled us to respond swiftly while preserving financial discipline. 2025 was no exception. During the year, we selectively deployed capacity and carefully managed costs under the inflationary environment with a clear focus on cash generation. As a result, our performance demonstrated a clear separation from the industry across key operational and financial metrics. We recorded capacity growth of 7.5%, 2 percentage points higher than the industry and more than 45% above 2019 levels, a performance rarely matched among comparable full-service carriers. More importantly, this growth translated into