Turkish Airlines posts 44% decline in 2010 operating profit

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Turkish Airlines has posted a 44.2% decline in its full-year operating profit to $307 million, compared with $550 million in 2009.

In a statement to the Istanbul stock exchange, the airline says its net profit fell 46.7% to $191 million from $358 million in the previous year.

Sales revenue increased by 23% to $5.6 billion, 81% of which was obtained from international traffic.

Turkish Airlines transported 16% more passengers, around 29 million in total, and passenger load factor increased 2.8 percentage points to 73.7%.