Investor Presentaiton
Strong Balance Sheet
We have sound liquidity and comfortable leverage levels
Liquidity Development
14.0
4,866
+4,061
Cash Flow from
Operating Activities
-95
Net Cash Flow from
Investing Activities
-1,968
Cash Flow from
Financing Activities
6,864
31 Dec. 2022
Cash and Cash Eqv. & Financial Investments (mn USD)
30 Sep. 2023
Net Debt & Leverage
Net Debt (bn USD)
7.8 bn USD
decrease
Net Debt to EBITDA
9.5x
8.5
3.9x
3.0x
3.4x
1.7x
1.1x
6.2
31 Dec. 2020
31 Dec. 2022
30 Sep. 2023
2018
2019
2020
2021
2022
LTM 3Q'23
2023
TURKISH AIRLINES
A STAR ALLIANCE MEMBER
1 Net Debt: Total Debt - (Cash & Cash eq.+ Financial Investments + Short-term PDP Receivables + Restricted Cash)
Sound Liquidity and
Comfortable Leverage
We have ~6.9 bn USD
liquidity as of September 30.
LTM Net Debt to EBITDA
decreased to 1.1x
to its lowest level.
Net debt decreased by
7.8 billion USD from its
peak at the end of 2020.
Deleveraging driven by
operational cash generation.
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