ISTANBUL, TURKIYE — Turkish Airlines has unveiled an ambitious strategic plan to double its size over the next decade, with the goal of carrying 170 million passengers and operating over 800 aircraft by 2033. 

The airline has already made a strong recovery since the pandemic, with revenues up 39% and capacity 7% higher than 2019 levels. The 10-year plan, which concludes with the airline's centennial, aims to increase revenues from $18.4 billion in 2022 to over $50 billion by 2033. The airline also targets an EBITDAR margin of between 20% and 25% over the next decade, after reporting a 29% margin in 2022.

Turkish Airlines intends to double passenger capacity by growing at an average annual rate of 7%, raising passenger numbers from an estimated 85 million in 2023 to 170 million by 2033. The airline plans to support this growth by doubling its fleet, reaching over 800 aircraft by 2033, up from 394 at the end of 2022.

The strategic plan also includes expanding the low-cost unit AnadoluJet's fleet to 200 aircraft and establishing it as a separate subsidiary. Furthermore, Turkish Airlines aims to double the size of its cargo operation over the next decade, which accounted for over one-fifth of the airline's revenues in 2022.

Turkish Airlines Chairman Ahmet Bolat emphasizes the airline's commitment to contributing to Turkey's economy and development as it reaches its 100th anniversary in 10 years.