Turkish Airlines soar after Q3 results beat market expectations

Turk Hava Yollari A.O.

Yesterday 08:23

** Shares in Turkish Airlines THYAO.IS are up almost 4%, after company posted Q3 net profit above market expectations
** Turkey's flag carrier airline posted Q3 net profit of $1.29 billion versus market expectations of $1.11 billion, says brokerage Deniz Yatirim
** Deniz Yatirim notes cargo business has been positively affected due to geopolitical events limiting supply capacity, raising cargo revenue by 45.6% to $1.2 billion
** Brokerage Ak Yatirim underlines available seat kilometres rose by 3.2% to 76.8 billion, though Middle East  fell by 21.6% year-on-year
** Q3 EBITDA margin fell by 4.5 percentage points to 22.5% on a yearly basis, mostly due to increased fuel costs, brokerage Is Yatirim said
** Up to the previous session's close, shares were down 1.3%​ YTD 

(Reporting by Mirac Eren Dereli)
((miraceren.dereli@thomsonreuters.com;))