The recently revealed strategic plan for Turkish Airlines would effectively quadruple its size over the next decade, with the airline expecting to transport 170 million passengers and operate more than 800 planes by 2033.

Since the pandemic, the Star Alliance carrier has seen a significant uptick in activity, with 2018 closing with revenues 39% over 2019 and a capacity of 7 % above 2018.

By 2033, Turkish Airlines expects to have a fleet of approximately 800 planes.

To celebrate its 100th anniversary, Turkish Airlines has laid out a 10-year plan to grow revenue from $18.4 billion in 2022 to more than $50 billion by 2033. Its target EBITDAR margin for the next decade is between 20% and 25%. The airline made a record profit of $29.1 million last year, with an EBITDAR margin of 29 percent.

The expansion strategy calls for a doubling of passenger capacity at an average annual growth rate of 7%. If this happens, the yearly passenger volume will increase from an anticipated 85 million this year to 170 million in 2033.

The tripling of its fleet size is planned to facilitate this. At the end of 2022, the airline fleet had 394 planes. It projects 435 aircraft in the fleet by the end of the year, with that number rising to “over 800” by 2033. The airline has 72 planes on order, according to Cirium Fleets statistics, and CFO Murat Seker said in March that the company would be “placing a large order book” after finalising its 10-year strategy.

The strategic strategy calls for doubling the size of the low-cost division, AnadoluJet, to 200 planes. There were 64 planes in the fleet as the year ended. Additionally, Turkish reaffirms its intention to spin off the airline as a wholly owned company, with the stated goal of “repositioning its brand, restructuring its revenue and cost structures.”

The cargo division of Turkish Airlines also plans to increase in size during the next decade. More than 20% of Turkish Airlines’ income in 2022 came from cargo sales.

“Today, Turkish Airlines, a 90-year-old giant, is a dynamic young adult, actively continuing its development. Yes, our journey is still very long. As our country’s national airline, we consistently implement and set short, middle and long-term goals on this adventure where we reach all four corners of the world,” said Ahmet Bolat, Turkish Airlines chairman.

” We are happy to share our goals that will significantly contribute to our country’s economy and development in the next ten years by declaring our strategic planning for our 100th anniversary, which we will celebrate ten years from now.”

A Turkish Airlines investor presentation from September 2022 included Sydney as one of the ‘future routes’ and other important cities like Rio de Janeiro and Santiago.

The Star Alliance member had wanted to start flying to Sydney since at least 2015 when CEO Temel Kotil announced; the schedule was then pushed back to 2018 and 2019.

Turkish Airlines’ long-range aircraft need a stopover in Asia; the company has proposed Kuala Lumpur, Jakarta, and Bali. However, with the new planes they want to purchase between now and 2033, the airline will be able to offer nonstop service from Istanbul to Australia.