Q2 2025 Turk Hava Yollari AO Earnings Call Transcript
(technical difficulty) During the second quarter, the global aviation industry continued to navigate a challenging and complex environment marked by geopolitical tensions, ongoing macroeconomic uncertainties and persistent supply chain constraints. Against this backdrop, international air travel remained healthy supported by resilient passenger demand across our extensive network.
On the other hand, as anticipated, global cargo market stayed soft, indicating weaker trade activity and decrease in sea freight rates. In this evolving and volatile environment, Turkish Airlines once again demonstrated its adaptability and operational agility. Our diversified revenue streams and robust hub structure enabled us to deliver a strong performance.
Let me start with the highlight of our recent achievements. Last quarter, we expanded our strategic partnerships and global presence. At the IATA Annual General Meeting in Delhi, we signed a joint business agreement with Thai Airways. This revenue sharing partnership on the
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