Turkish Airlines plans fleet expansion after tripling profit

Istanbul

TURKISH Airlines on Wednesday reported a near-tripling in 2014 net profit, but the company's shares fell as analysts homed in on the impact of a weak euro on the airline's passenger yield.

The airline said it and its subsidiaries planned US$3.74 billion in investments this year, mostly on previously-ordered aircraft that will expand its fleet of 261 planes. "When we include the aircraft we decided to order at our last two board meetings, we plan to complete 2015 with a 300-strong fleet," chairman Hamdi Topcu said, a figure marginally higher than a previous target of 293 planes.