Turkish Airlines’ quarterly loss more than doubles on higher costs

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Turkish Airlines’ first-quarter losses more than doubled, hit by higher fuel prices and other costs. The Turkish flag carrier, which operates flights to 306 destinations in 124 countries, reported a loss of 1.25 billion lira or $229 million in the first quarter, compared with a loss of 314 million lira or $86 million in the same period a year earlier. Analysts said the loss was wider than an average forecast of a 662 million lira loss. That reflected higher oil prices due to currency volatility and increased unit costs due to staff and marketing expenses, analysts said.

Source: http://www.arabnews.com/node/1495371/business-economy

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