THY in trouble?

[JohnF]

Looks like THY's massive spending on new aircraft is now biting them on the arse just as I forecast a while back.

They've posted a 410m lira loss for last year with their foreign currency borrowings being cited as a major factor.  Their credit rating is now roughly similar to an Istanbul shoe shine boy.

Wouldn't surprise me if their recent low prices to Istanbul are part of a campaign to get bums on seats, from a countries where the customers will be paying in sterling, dollars or euros - some of their long haul prices are absolute bargains just now.

Anyway, no need to worry, 49% of THY is still owned by the government so I'm sure there'll be a wee shoebox or two winging their way if they can't pay the wages next month!

JF

[usedbustickets]

Your right John there are some bargains to be had at the moment with Turkish Airlines, as there is with Pegasus too.  The problems largely driving these prices, might also include issue of Turkey as  tourist destination.

[Hamlet]

Bargains???
Bargains???

Last month we looked for 2 return flights Dlm - Ist and the cost came in at 324tl.
Booked with Pegasus 78tl

Onward flights with Qatar Airways were also about 35% cheaper than TA.

[Scunner]

Maybe you and I were right John, maybe Mogadishu four times a week and the service from Istanbul to Kinshasa, capital of the Democratic Republic of the Congo were ridiculous services that nobody wanted after all.

[JohnF]

Aye, I remember checking the price for the Mogadishu flight as well - cheap as chips for a wee African jaunt into a war torn country, where THY's destination description wouldn't fill you full of confidence either:

"The capital city Mogadishu is being protected by the African soldiers of the African Union peacekeeping force.  The port is the most yielding and mobile area of the city, which is in a state of destruction due to the civil war. The points of entrance and exit of the port are also controlled by the soldiers of the African Union peacekeeping force. The United Nations High Commissioner for Refugees (UNHCR), together with other organizations, is working to provide urgent necessities such as shelter, food, and water; while also working to increase the donations made for the area."

This whole "we fly to more destinations" crap was an attempt by THY to be the billy big baws of the aviation industry which has failed miserably.  They bought the aircraft, then ordered more aircraft, they bought slots in some seriously corrupt African countries (they fly to 29 African countries out of 55) and then they started daily services to places like Somalia and Rwanda.  Now they are paying the (financial) price for this vanity exercise.

One wonders what their results for 2016 are going to be like...

The upside is that it's giving folks a chance at some decent deals.  Ok, a previous poster found better, but there are deals to be found - especially it appears on the UK to IST flights.

JF