Turkish Technic reports 15.7% growth in FY2021

Aircraft MRO company, Turkish Technic, has released its 2021 financial results, which mark what the company calls “successful growth and strong strategic acceleration compared to the previous year”. The company recorded 15.7% growth compared to the previous financial year, with US$1.034 billion in revenue and an increase in market share to 1.6%.

As with most areas of aviation, the MRO sector was negatively affected by the travel restrictions introduced in response to the Covid-19 pandemic, but Turkish Technic worked on new opportunities, including achieving base maintenance authorisation for the C/D Hangars at Istanbul Airport. In these hangars the company can now perform base maintenance of the Boeing 787 type aircraft for the first time, while also increasing its capacity for landing gear maintenance by 40%, and enhancing its landing gear maintenance-repair capabilities.

During 2021 Turkish Technic supplied 672 aircraft base maintenance services, provided maintenance-repair services to 216 landing gear systems, and supplied over 100,000 components.

Discussing 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 the MRO sector dropped by 28% compared to pre-pandemic numbers, our company reached 88% 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.”