Turkish Airlines Now Russia’s Largest Foreign Airline
- New Europe Investor
- November 13, 2015
Turkey’s national carrier, Turkish Airlines have become Russia’s largest foreign airline following cuts in flights from competitors in the country.
Turkish Airlines have overtaken Germany’s national carrier, Lufthansa this year, increasing the number of flights to the country by 16%.
Russia’s economic crisis is having a significant impact on the airline industry. In addition, the currency crisis has severely damaged Russians ability to travel abroad. The ruble is currently valued at 66 to the dollar, compared to 46 only 12 months ago.
Reports suggest Germany’s Lufthansa have cut flights by 31% in the past year, with other major competitors cutting flights by as much as 43%.
Some airlines such as; Easyjet, Thai Airways and Air Berlin have completely quit the Russian market, such has been the fall in demand.
Turkish Airlines are taking a longer term view on the market, trying to position themselves well for a market turn around.