Bloomberg News

Turkish Airlines Gains First Time in 3 Days as Loss Narrows

May 21, 2012

Turk Hava Yollari (THYAO) AO, the carrier known as Turkish Airlines, gained the first time in three days after reporting its first-quarter loss narrowed to 29.4 million liras ($16 million), beating analyst estimates.

The shares added 2.6 percent to 2.75 liras at the close in Istanbul, gaining the most since April 26.

The loss narrowed from 219.8 million liras in the first quarter of last year, Turkish Airlines said in a statement to the Istanbul Stock Exchange after the market closed May 18. The company was expected to report a loss of 64.8 million liras, according to the average of six analyst estimates compiled by Bloomberg.

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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