The last 20 years witnessed highly volatile financial markets, negative developments in Europe and the Middle East, extreme fluctuations in oil prices, and a series of adversities experienced in Türkiye especially in 2015 and 2016. During this tumultuous period, Turkish Airlines recorded aircraft financing transactions totaling USD 3 billion. In 2020, at the start of the Covid-19 pandemic, the biggest test of the global aviation sector, Turkish Airlines recorded aircraft financing transactions worth USD 2.5 billion. These transactions were completed successfully thanks to strong relationships based on mutual trust that have been meticulously maintained with financial institutions around the world for many years. In addition to Turkish Airlines’ strength in aircraft financing, liquidity management was carried out in a healthy manner with the provision of long-term unsecured cash loans of nearly EUR 5 billion, thanks to the company’s high credibility with international and local banks and financial institutions during the transition to the new airport and during the pandemic period. The company continues to move steadily forward by successfully completing its investments in its main targets.
Due to its effective risk management and transfer
strategy, Turkish Airlines has also increased its type of insurance coverage over the last 20 years from 20 to 32 branches. Turkish Airlines has expanded the volume of aircraft fleet insured in international markets by approximately nine times and the volume of other tangible assets by about ten times. The sustainability of the company’s cash flow and liquidity is ensured via systematically implemented
financial risk management strategies. As a result, the
company’s growth journey and investments have continued unabated despite the many crises experienced globally over the past 20 years. Thanks to its strong financial infrastructure as a result of agreements with banks across five continents, the company’s ability to conduct business and transactions on a global level has been maximized. In addition to the development of the first corporate financial risk management software in Türkiye, Turkish Airlines’ strong financial infrastructure is supported by technologies in line with the requirements of today’s world. Turkish Airlines’ efforts include digitalization initiatives such as finance and treasury integration through the ERP software developed to adapt its finance and treasury infrastructure, treasury management system software, SWIFT integration, and robotic system migration.
FROM BOUTIQUE AIRLINE TO THE TOP IN 20 YEARS
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