Baku. 10 January. REPORT.AZ/ Turkish Airlines (THY) has canceled over 1 000 flights in last 4 days due to the heavy snowfall in Istanbul.
Report informs citing the Bloomberg, for this reason, Turkish Airlines has accommodated 15,000 people, food aid distributed to 40,000 people. As a result, Turkish Airlines suffered a loss of 100 million lira (28 mln USD) in last 4 days.
In addition, fuel consumption increased because Turkish Airlines planes forced to land in other airports.
THY's losses has a negative impact on its share prices at Istanbul Stock Exchange. Thus, yesterday, January 9 THY's shares fell by 4.87%. Due to the snow THY is expected to end the first quarter of 2017 even with losses.