Turkish Technic releases 2021 financial results

Company recorded a 15.7 percent growth compared to previous year with 1,034 billion USD revenue and increased its market share to 1.6 percent.

Showing its effect starting from 2020 at a global scale and bringing aviation sector to an almost complete halt, pandemic also affected Turkish Technic negatively just like others in aviation related sectors such as MRO. Yet, by quickly overcoming this negative effect and showing a successful performance, Turkish Technic received base maintenance authorisation for C/D Hangars of Istanbul Airport. Performing base maintenance of a Boeing 787 type aircraft for the first time, MRO leader increased its number of landing gear maintenance by 40 percent and enhanced its landing gear maintenance-repair capabilities.

On the 2021 performance of the company, CEO of Turkish Technic, Mikail Akbulut stated; “We are happy with these numbers which showed we grew and profited during 2021 especially after one of the hardest years for aviation. Although the mean revenue of MRO sector dropped by 28 percent compared to pre-pandemic numbers, our company reached 88 percent in third party revenue during this period. We will realise our growth plans by continuously increasing our capacity, capabilities, customer portfolio and personnel numbers. We are determined to surpass our growth and revenue level obtained before pandemic by the end of 2022. We thank our customers for their confidence in our company and extend our gratitude to our colleagues for their dedication and effort.”

Providing component and aircraft maintenance service to many airline companies spread over a large geographical area, Turkish Technic supplied 672 aircraft base maintenance service while providing maintenance-repair services to 216 landing gear and over 100,000 components throughout 2021.