Happy February everyone.
Since you started off with a Pegasus picture, this week PC
also announced they are leasing 10-additional aircraft in 2015.
They plan on acquiring total of 5 B737-800 and 5 A320-200s on lease from Avolon (Ireland), BBAM (US), Jackson Square Aviation(US), and ORIX Aviation(Ireland).
As one can see from their 2014 results, things are going very well for them so they are seeking out additional capacity rapidly.
In other news, the IATA inhouse magazine featured and article about TK
and interview with Temel Kotil. Below are some highlights
o Launching an internal - "love the passenger" focus
o Unlike other carriers looking to reduce spending in passenger service, TK
works to expand percent of budget available to directly benefit its clients
o Details in food matter - As example TK
insist on fresh orange juice - its more costly and harder to acquire, but fresh is healthier and taste better. TK
no longer accepts frozen foods either.
o Easily see TK
growing at double of the industry rate. 2002-2014 TK
compound growth has averaged near 17%
o Financial focus is on the continued growth of productivity, which will help with target reduction of cost base by by 1% annually. TK
advantage versus European competitors will continue to widen.
o Africa has been great success - particularly proud of TK
being pioneer in markets like Mogadishu
o Overall network expansion will be symmetrical, want to keep growing East-West and North-South opportunities over IST
o Star Alliance is important as it provides TK
added exposure bringing passengers and helps drive further improvements based on best practices, but its a "soft partnership" at the end TK
still doings its own homework and seek out own opportunities
o With Turkey geographic position, TK
has opportunity to make a big mark in the world of cargo also.
o Wholly owned subsidiaries like TK
Technic, TGS, catering are so busy keeping up with TK
growth at the moment, but one day they will become big players in 3rd party services on their own.
o Turkish government long ago realized the benefits of aviation. Market liberalization, open-skies, reduced ticket taxes, easier visa rules, and infrastructure investment has helped boost broader Turkish economy. Governments job should be to support industry to flourish, not hold it back as seen in places across Europe for example.
o Number of commercial airports in Turkey doubled from 26 in 2003 to 52 in 2014.
o With late forecast 2017 opening of new airport, TK
seeks to relocate for the summer 2018 schedule. Can see 80-mil passenger activity at airport from start almost, so phase-2 will be needed by 2020-2022
o With limitations at IST
is investing in more staffing to make experience better, but only small incremental growth possible at IST
until new airport opens. Meantime building SAW
schedule. Could allocate WBs to SAW
as well eventually.