Turkish Airlines Stock Falls After Second-Quarter Loss Is Double Estimates - Bloomberg

Turk Hava Yollari (THYAO) AO, the carrier known as Turkish Airlines, declined in Istanbul after losses in the second quarter, driven by higher leasing costs, were more than double estimates.

Turkish Airlines fell as much as 2.5 percent to 2.35 liras, the lowest intraday level in a week. The share dropped 2 kurus, or 0.8 percent, to 2.39 liras at the 12:30 p.m. close of trading, extending losses this year to 47 percent.

“The bottom line remained significantly below expectations as a result of massive foreign exchange losses from financial leases,” Is Invest, Turkey’s biggest broker, said in an e- mailed report today.

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