Flag carrier Turkish Airlines has generated a net pre-tax profit of $153m for Q1 2015, compared with the $110m loss it posted for the same period last year.
The airline said revenues totalled $2.2bn for the first three months of the year, a fall of four per cent on 2014 figures due to euro depreciation.
Despite making a final operating loss of $18m, Turkish Airlines said its results for the quarter outperformed Q1 2014 by 77 per cent.
The carrier also confirmed that its capacity had increased 9.4 per cent year on year and passenger numbers rose by 6.5 per cent to 12.8 million.
In a statement, the airline partly attributed its “outstanding” results to risk management strategies.