Turkey’s Biggest Airport Operator at Loss for 1st Quarter 2011

Airport operator posts loss for first quarter of 2011

TAV Havalimanları Holding, Turkey’s biggest airport operator, announced Friday that its first-quarter loss fell to 31.1 million Turkish Liras, exceeding estimates.

The loss dropped from 31.9 million liras in the same period of 2010, TAV said in a statement to the Istanbul Stock Exchange. The company was expected to report 18.3 million liras loss, according to the average of three analyst estimates compiled by Bloomberg.

“Although the first quarter corresponds to the lowest season in aviation, we have got favorable results indicating the high performance and the increasing operational efficiency of TAV,” said President and CEO Sani Şener.

TAV Airports served 10.1 million passengers – which was 9.4 million in the same period of 2010 – in the first quarter of the year at 10 airports in Turkey and abroad.

Meanwhile, Koza Altın, a Turkish gold miner, said its first-quarter profit doubled to 83.1 million liras, exceeding estimates. Net income increased from 41.1 million liras in the same period of 2010, Koza Altin said in a statement to the Istanbul Stock Exchange on Friday. The company was expected to earn 73 million liras, according to the average of three analyst estimates compiled by Bloomberg.
April 29, 2011
SOURCE: HURRIYET DAILY NEWS