Connect with us

Travel

Turkish Airlines posts record profit of more than USD 1 billion  

Published

on

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.

GrassRoots.ng is on a critical mission; to objectively and honestly represent the voice of ‘grassrooters’ in International, Federal, State and Local Government fora; heralding the achievements of political and other leaders and investors alike, without discrimination. This daily, digital news publication platform serves as the leading source of up-to-date information on how people and events reflect on the global community. The pragmatic articles reflect on the life of the community people, covering news/current affairs, business, technology, culture and fashion, entertainment, sports, State, National and International issues that directly impact the locals.

Continue Reading

Hospitality

South Africa’s Untapped Economic Goldmine

South Africa’s Untapped Economic Goldmine: Luxury Tourism & Ultra-High-Net-Worth Individuals Can Drive Job Creation and Stimulate Economic Growth

Published

on

Roxstar Luxury Travel
Roxy Robinson, Founder and Director of Roxstar Global Consulting, and Roxstar Luxury Travel

South Africa’s luxury tourism sector holds the key to unlocking unprecedented economic growth, global prestige, and job creation, argues Roxy Robinson, Founder and Director of Roxstar Global Consulting, and Roxstar Luxury Travel.

“Luxury inbound tourism is not a niche indulgence – it’s an untapped economic goldmine,” says Robinson. “South Africa has all the right ingredients to rival destinations like the Maldives, Dubai, and St. Barths, and with the right strategy, this sector could transform our tourism economy.”

Roxstar Luxury Travel
Roxstar Luxury Travel

Each year, more than 100 high-end luxury villas in Cape Town are booked by ultra-high-net-worth individuals (UHNWI) who fly in for exclusivity, privacy, and world-class services. Some have annual commitments to visit our shores, and tend to arrive by private jet for glamorous New Year’s Eve events in Clifton villas – such as the Luxus Villa – underscoring the scale of opportunity already at play.

According to Fortune Business Insights, the global luxury travel market will surpass USD 2.72 trillion in 2025, growing at a CAGR of 8.56% to nearly USD 4.83 trillion by 2032. In parallel, Global Growth Insights estimates that luxury safari tourism alone will reach USD 1.575 billion in 2025, rising to USD 2.894 billion by 2033.

For South Africa, these figures translate into real impact. The latest market analysis projects that luxury and niche tourism growth could increase the sector’s contribution to GDP to 10.8% by 2034, creating over 720 000 new jobs in the process.

South Africa’s unique competitive edge lies in its fusion of concierge-level service, authentic culture, and sustainability. High-touch private hospitality – from chef-led villa dining to curated wine, art and private game lodges of the likes of the Singita Group – all provide the kind of transformative experiences increasingly sought by the world’s wealthiest travellers.

Robinson also highlights South Africa’s culinary capital as a drawcard. In 2025, Cape Town restaurants La Colombe, FYN, and Salsify at the Roundhouse featured on the World’s 50 Best Restaurants extended list, while the country as a whole was named Africa’s Best Culinary Destination at the World Culinary Awards just last year.

“When global recognition shines on our chefs, vineyards, lodges, and villas, it elevates South  Africa’s place in the luxury travel map. For ultra-high-net-worth travellers, these are powerful signals of quality and prestige,” Robinson notes.

Robinson argues that luxury tourism should be positioned as a cornerstone of South Africa’s long-term economic future. By enhancing visa accessibility, investing in sustainable, high-end lodges, and marketing the country’s blend of luxury and authenticity, South Africa can claim its rightful place as a global leader in premium travel.

“UHNWI tourism has the potential to be South Africa’s new gold rush,” says Robinson. “It is time we mine this opportunity with the same focus and urgency we apply to any other strategic industry. The return – in jobs, growth, and global influence – will be extraordinary. The fact that we are just a stone’s throw away from island experiences like the Seychelles and Mauritius simply offers ultra-high-net-worth individuals with a host of experiences they simply do not want to miss”

Continue Reading

Hospitality

RateGain Introduces Hospitality Industry’s First MCP Integration for Booking Engine, Usable with Claude and Other AI Assistants

Published

on

RateGain Introduces Hospitality

RateGain Travel Technologies Limited (NSE: RATEGAIN), a global provider of AI-powered technology solutions for the hospitality and travel industry, today announced the introduction of the industry’s first Model Context Protocol (MCP) integration for its Booking Engine, available within Claude and other AI assistants.

This breakthrough further strengthens RateGain’s position as an AI-first company by expanding the AI capabilities of UNO, its unified platform designed to simplify hotel commerce and power every step of the guest journey. According to KPMG, 66% of consumers now use AI tools in their daily lives, highlighting the urgency for hotels to stay aligned with this shift. The MCP integration for RateGain’s Booking Engine enables hoteliers and travel providers to deliver seamless conversational booking experiences to their guests, a first for the hospitality sector.

For customers, this innovation enables faster adoption of conversational AI without heavy investment or complex integrations. Guests can simply search, compare, and book rooms using natural language with AI assistants and chatbots, helping hotels improve conversion, enhance guest experience, and stay competitive.

Unlike approaches that focus only on visibility in AI-driven searches, RateGain’s solution makes hotels both AI-discoverable and AI-bookable, with real-time rates, availability, and amenities accessible directly from the booking engine. This ensures properties stay front and center as travelers increasingly turn to AI-powered planning.

Commenting on the announcement, Ashish Sikka, Business Head, UNO Platforms, RateGain, said, “At RateGain, our mission is to help the world travel more by constantly reimagining how technology can simplify the journey. As travel discovery moves from clicks to conversations, the MCP integration for our Booking Engine is another step in UNO’s AI roadmap, empowering our customers to make their booking channels conversational and ensuring they are not just visible but bookable across every channel where guests explore and plan.”

Combined with UNO’s expanding suite of AI-powered solutions, this milestone underscores RateGain’s mission to deliver the future of travel technology, today.

Continue Reading

Hospitality

Gov. Mbah and the Rebirth of Hotel Presidential

By Nnamani Arinze Darlington

Published

on

Hotel Presidential relaunch

Enugu’s renaissance is oscillating through the entire space of Nigeria, led by a man whose audacious governance and humongous vision is breathing new life into the legacy of the late Dr. Michael Iheonukara Okpara, the iconic Premier of Eastern Nigeria.

Governor Peter Ndubuisi Mbah, a maritime lawyer and a towering entrepreneur turned transformative leader, is not just governing, he is rekindling a golden era, breathing Okpara’s spirit into the entire Enugu to catapult the state into a future defined by innovation, prosperity, and pride.

This is not just leadership; it is a renaissance, deliberate and electrifying, that dares to dream as big, if not bigger, than its storied predecessor.

At 39, Michael Okpara took the reins of Eastern Nigeria in 1959, deploying his philosophy of “Pragmatic Socialism” to transform the region into an economic titan. His agricultural revolution, anchored by institutions like Adapalm, turned Eastern Nigeria into a global palm oil powerhouse, fueling monumental projects like Okpara’s industrial ventures, Golden Guinea Breweries, and the Ceramics Industry in Umuahia, which sparked self-reliance, while his investments in education and infrastructure laid a foundation for enduring prosperity.

The parallels between Mbah and Okpara are impossible to ignore. Both are architects of self-reliance – Okpara through agriculture; Mbah through a diversified economic engine. Okpara’s educational revolution and Mbah’s Smart Schools both treat education as the spark for progress. Both have led by action, not noise, earning praise for their quiet yet seismic impact.

The rebirth of Hotel Presidential in Enugu, Nigeria, under Governor Peter Mbah’s administration after over 15 years of abandonment and neglect, is a notable example of revitalizing state-owned assets to boost tourism, economic growth, and job creation for the overriding public interest of the people of Enugu State.

Built by Dr. Michael Okpara and commissioned in 1963, Hotel Presidential was a prestigious landmark in Enugu, originally featuring 100 rooms and hosting significant events in its early years. It served as a hub for social and economic activities in the region. The hotel fell into disrepair over the years, lying comatose for over 15 years due to neglect and mismanagement, becoming a symbol of lost potential.

Since taking office, Governor Peter Mbah has prioritized the restoration of moribund state-owned assets, with Hotel Presidential being a flagship project, along with similar significant rebirth across abandoned assets like UPPL, Sunrise Flour Mills, Nigergas, the International Conference Centre, and a host of others geared towards transforming Enugu into a premier destination for business, investment, tourism, and living.

The revitalization aligns with Governor Mbah’s broader economic goals, including achieving a $30 billion economy for Enugu State. The revamp of Hotel Presidential will create hundreds of jobs and enhance tourism infrastructure in the state, while also making Enugu the Conferencing Capital of Africa.

Mbah’s governance is a “dramatic departure” from the status quo, pulsating with the revolutionary fervor of Okpara’s era.

The hotel’s rebirth is part of a larger portfolio of over 2,000 ongoing and completed projects under Mbah, including smart schools, healthcare centres, farm estates, and various urban and rural road construction.

Peter Mbah is not just walking in Okpara’s footsteps; he is sprinting, adapting a historic vision to a modern canvas. Through relentless infrastructure, education, security, and economic innovation, he is forging Enugu into a beacon of what Nigeria can be. Okpara’s legacy is a towering milestone, but Mbah’s Enugu is a living testament to its enduring fire. The road ahead is fraught with Nigeria’s tangled challenges: economic volatility, political noise, systemic hurdles, and bureaucracy.

Yet, Mbah’s momentum has consciously shown that he is not just reviving Okpara’s dream but redefining it, proving that visionary leadership can turn the past’s promise into the future’s triumph. Enugu is rising, and the world is watching the rebirth of Michael Iheonukara Okpara’s spirit in Governor Peter Ndubuisi Mbah through his visionary leadership and actions that are intentional and connecting the dots for economic and social prosperity for ndi Enugu.

Governor Peter Ndubuisi Mbah’s leadership embodies the spirit of Michael Okpara’s vision in a modern context. Through infrastructure, education, security, and economic innovation, Mbah is transforming Enugu into a beacon of progress, much as Okpara did for Eastern Nigeria. While Okpara’s legacy is a historical milestone, Mbah’s ongoing efforts show he is on a path to leave a similar mark. He will fully realize Okpara’s “rebirth” from the already sustained momentum and focus to overcome Nigeria’s complex challenges. For now, Mbah’s Enugu is a testament to the enduring power of visionary leadership, proving that the past can inspire a brighter future.

Under Governor Peter Mbah’s leadership, the rebirth of Hotel Presidential symbolizes Enugu’s resurgence as a hub for tourism and economic activity. Reiterating the words of the Enugu State Commissioner for Culture and Tourism, Ugochi Madueke, while extolling Mbah’s leadership at the commissioning ceremony, she said: “The silence has been broken; the lights are on never to dim again; the doors are open never to shut again; and the spirit of Enugu is back, stronger and brighter than ever.”

…. Nnamani Arinze Darlington writes from Enugu

Continue Reading

Trending