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Turkish Airlines posts record profit of more than USD 1 billion  

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Due to the increasing demand and unit revenues, Turkish Airlines posted profit from main operations of USD 1 billion 149 million, in the first 9 months of 2018, despite the increasing fuel prices.

Turkish Airlines, managed to increase both passenger and cargo revenue significantly, achieved a total revenue of approximately USD 4 billion in the third quarter of the year.

With such remarkable performance, sales revenue in the first nine months increased by 20 percent to USD 9.9 billion, compared to the same period of 2017.

Continuing its uninterrupted profitable growth performance, Turkish Airlines managed to increase its net profit by 3 times in the first 9 months of the year and completed this period with a net profit of USD 755 million.

In the first nine months of 2018, EBITDAR (earnings before interest, taxes, depreciation, amortization and rent), which is used as a cash generation indicator, increased by 16 percent to USD 2.8 billion, with an EBITDAR margin of 28 percent.

Commenting on this brilliant success, Turkish Airlines Chairman of the Board and the Executive Committee, M. İlker Aycı said; “We are delighted and proud to announce our third quarter results of this year, in which we put great emphasis on strengthening and improving the infrastructure conditions we have. We would like to thank all our passengers, employees, business partners and stakeholders who have contributed to this important achievement.”

“Despite the various regional and sectoral conditions that we have encountered especially in last few years, the persevering attitude we displayed has been the source of our steady rise. Today, with our significant investments, impressive growth figures and numerous successes we achieved, we continue to strengthen our prestigious position in the global aviation industry. As being one of the primary prides of our country, we are sure that this momentum will continue increasingly after moving to our new home, Istanbul Airport, as well.”

Turkish Airlines, which has strengthened its identity as a leading global airline with its extensive flight network, is operating flights to 49 domestic and 255 international destinations, a total of 304 destinations in 122 countries, along with Freetown, Samarkand, Krasnodar and Moroni routes which were opened this year. The fleet of Turkish Airlines, one of the youngest and most modern in the world, operates a total of 329 aircraft, comprising 217 narrow body, 92 wide body and 20 cargo aircraft, as of today. Investing in the most advanced and environmentally friendly new generation aircraft, Turkish Airlines aims to reach a fleet of 475 aircraft by 2023.

Looking at traffic numbers, during the first nine months of the year, total Load Factor climbed 3,2 percentage points to 82 percent. During the same period, increase in total number of passengers carried, capacity (available seat kilometer) and demand (revenue per kilometer) was 12 percent, 6 percent and 10,3 percent, respectively, over the same period of last year. Turkish Airlines carried approximately 58 million passengers during this period.

According to International Air Transport Association (IATA) first nine month figures, the global aviation sector realized capacity growth of 6 percent and demand growth of 7 percent.

Turkish Cargo, which is the world’s fastest-growing air cargo carrier, with the cargo volume it carries, new flight destinations and cargo aircraft added to its fleet, continues to maintain the services it provides to its customers in 122 countries, with Turkish Airlines quality and to increase its market share in the global air cargo market.

Having completed the nine-month period of 2018 with great success, Turkish Cargo carried more than 1 million tons of cargo with an increase of 25 percent compared to the same period of the previous year, while cargo revenue increased by 29 percent and reached to USD 1.2 billion. Turkish Cargo continues its operations with the target of being one of the largest air cargo carriers in the world.

Opening for operations on the 95th Anniversary of the Foundation of the Republic of Turkey, Istanbul Airport, will witness one of the most important milestones of Turkey’s Aviation Industry and Turkish Airlines as well. The growth of Turkish Airlines will accelerate with Istanbul Airport, which will bring a fresh momentum to the entire aviation sector. With this major investment, Turkish Airlines will continue its growth path towards becoming the leader of the global aviation sector, by maximizing its passenger experience.

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Nature, Wellness and Culinary Drive 2025 Travel Trends in Africa, according to Mastercard Economics Institute

New Mastercard Economics Institute Travel Trends Report 2025 reveals that purpose in the form of nature-driven travel, wellness escapes and culinary adventures, are among the top drivers of tourism across Africa, SANDRA ANI reports

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Travel Trends 2025 Purpose - driven journeys by Mastercard Economics Institute

The Mastercard Economics Institute (MEI) has released its annual Travel Trends 2025 report, revealing the latest consumer spending insights and motivation when it comes to travel.

Cross-border movement is often influenced by the most pressing economic factors of the moment, such as exchange rates and geopolitical tensions. However, these are not the only factors driving consumers’ travel spending decisions, including those in Africa. Personal and purpose-driven factors remain powerful even when economic uncertainty looms.

Building on the resilience of the global travel sector seen last year, the 2025 report highlights how destinations across the African continent are increasingly appealing to tourists and, creating additional opportunities for local markets to develop tourism.

“Africa is emerging as a global leader in purpose-driven travel, where nature, wellness, and culinary experiences are redefining the continent’s tourism landscape. These trends present a powerful opportunity to drive inclusive growth, support local economies, and position Africa as a key player in the future of global tourism,” said Mark Elliot, division president, Africa, Mastercard.

Whether drawn by Namibia’s wellness retreats, South Africa’s wilderness experiences or Morocco’s vibrant culinary scene, travelers are expanding their horizons beyond traditional hotspots.

“Tourism is playing an important role in Africa’s growth story. Travelers are increasingly drawn to the continent’s natural beauty, culinary diversity, and wellness experiences. While economic and geopolitical factors matter, the pursuit of meaningful, purpose-driven travel remains strong. The Mastercard Economics Institute’s report sheds light on how countries are tapping into this trend to attract visitors and boost local economies,” said Khatija Haque, chief economist EEMEA, Mastercard Economics Institute.

By exploring a full range of travel motivations, the report identifies the main themes shaping travel today:

Africa trends:

  • Nature-fueled adventures: South Africa and Zambia dominate cross-border spending around national park areas. Spending around South Africa’s major national parks far outpaced that of other countries, with nearly a quarter of the cross-border spending occurring within these zones. Zambia is also highly ranked as an outdoor adventure destination.
  • Culinary crossroads: Marrakech ranks highly on the foodie list with its median restaurant hosting tourists from many different countries, often to enjoy meals of tagine and b’stilla. Cape Town is also on the list, with its bobotie dish proving popular with visitors.
  • Wellness in the wild: Africa is establishing itself as a global leader in wellness-centered travel as consumers prioritize rejuvenation and self-care. Namibia, South Africa and Botswana are among the top destinations for travelers seeking spa-style and nature-based retreats and immersive eco lodges. Kenya is also ranked among the top 20 destinations for wellness In the Mastercard Wellness Index 2025.

Other global trends:

  • Spa, summit and savor: Personal passions and goals motivate travel choices. Adventure-seekers are heading to the Nordics, where Finland’s national parks account for 7.1% of cross-border spending in the country.
  • Summer destination draws: The Asia-Pacific region commands the list of trending summer destinations. Flight booking data reveals the top global destinations gaining most momentum for June-September travel, relative to last year. Tokyo is the number one trending spot for summer 2025, followed by Osaka and then Paris.
  • Fuelled by fans: Fans travel internationally to see their favorite teams and athletes play. Case in point? During Shohei Ohtani’s World Series debut, spending by Japanese visitors in Los Angeles surged by 91%, six times the broader cross-border boost. 
  • Money matters: Despite geopolitical tensions and fluctuating prices, the factors that motivate consumers to travel are often more complex than just economic. But currency depreciation can make certain destinations, like Japan, more attractive due to their better value for money.
  • Wheeling and dealing closer to home: In general, business travelers favor longer trips within their own regions, driven by hybrid work models and geopolitical uncertainty. However, there are exceptions, with UK businesses spending a growing share of their travel budgets in Asia, Europe, the Middle East and Africa.

Mastercard is dedicated to helping the global tourism sector grow through market analysis and high-frequency, data-driven insights that enhance the travel experience. By empowering destinations and businesses to better understand evolving consumer trends, Mastercard is helping to shape a more connected and resilient future for travel across Africa.

You can view the full “Travel Trends 2025: Purpose-driven journeys” and other reports and insights from the Mastercard Economics Institute can be found here.

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BSG and FRSC Announce the 2024 Edition of the “Don’t Drink & Drive” Campaign

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Don’t Drink & Drive Campaign by FRSC
“Don’t Drink & Drive” campaign

The Beer Sectoral Group (BSG) of the Manufacturers Association of Nigeria (MAN), in partnership with the Federal Road Safety Corps (FRSC), is set to launch the 2024 edition of its “Don’t Drink & Drive” campaign.

The two-day event will take place on December 10th and 11th, 2024, targeted at raising awareness on the dangers of drink-driving and ensuring safer roads for all Nigerians.

The campaign will kick off with a media launch at the Radisson Blu Hotel, Ikeja, on December 10th, where key stakeholders will address the media, highlighting the campaign’s goals, achievements, and the importance of continued collaboration in promoting road safety across Nigeria. The event will feature prominent executives from the BSG, FRSC, and other stakeholders in road safety advocacy.

On 11th December, the campaign will shift to three major motor parks—Ojodu, Ojota, and Oshodi—where drivers and road users will be engaged through an educational rally. During the rally, drivers will be sensitized on the dangers of drinking and driving, with a strong emphasis on responsible driving behavior. In addition, the FRSC will conduct voluntary breathalyzer tests at these locations, underscoring their commitment to fostering safer motoring environments across the country.

The 2024 edition of the “Don’t Drink & Drive” campaign promises to continue its tradition of educating the public on the risks of drinking and driving while providing the necessary tools for the FRSC to execute its duties effectively.

The BSG and the FRSC remain steadfast in their mission to reduce road accidents and make Nigerian roads safer for everyone.

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Travel

Defence Minister in S’Arabia to Discuss Counter-Terrorism

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H.E. Dr. Bello Matawalle
Honourable Minister of State for Defence, H.E. Dr. Bello Matawalle

The Honourable Minister of State for Defence, H.E. Dr. Bello Matawalle is in the Kingdom of Saudi Arabia to begin talk with the Secretary General of the Islamic Military Counter Terrorism Coalition (IMCTC), Major Gen. Mohammed Bin Saeed Al-Moghedi.

The talks which began at the IMCTC Headquarters in Riyadh, Saudi Arabia on Monday November 18, 2024 is expected to yield positive results and ideas on how best to approach counter-terrorism in Nigeria.

During the meeting, Dr. Matawalle is expected to talk with other high ranking experts in counter-terrorism fight and logistics management.

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