Turkish Airlines Rises Third Day as Passenger Numbers Increase

Turk Hava Yollari AO (THYAO), or Turkish Airlines, gained in Istanbul rose for a third day and headed for the highest in almost two months after saying passenger numbers rose.

The shares gained 1.1 percent to 2.79 liras at the mid-day break in Istanbul, on course for the strongest level since April 17 on a closing basis.

Passenger numbers jumped 18.9 percent in the first five months of the year while cargo climbed 23.4 percent on a weight basis, Turkish Airlines said in a statement to the Istanbul Stock Exchange today.

“Passenger growth remains intact in May 2012, showing resilience” against global macroeconomic difficulties, Ata Invest said in an e-mailed report today. “Passenger growth was predominantly boosted by a 33 percent rise in international passengers, while domestic passgners rose by eight percent.”

To contact the reporter on this story: Benjamin Harvey in Istanbul at bharvey11@bloomberg.net

To contact the editor responsible for this story: Gavin Serkin at gserkin@bloomberg.net

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