Recording A Profit From Main Operations Of 2.4 Billion USD In 2024, Turkish Airlines Shares Success With Investors

* It has announcing a cash dividend of 260 million USD.

Outperforming industry averages in capacity, passenger numbers, and profitability over the past 20 years, Turkish Airlines reported a Profit from Main Operations of 2.4 billion USD in 2024 despite global geopolitical and economic tensions, bottlenecks in aircraft production, and engine issues. Accordingly, our Company maintained its consistent profitability under a challenging post-pandemic operating environment, reducing its net debt by 8.3 billion USD in just three years.

Firmly advancing towards its 100th anniversary goals, Turkish Airlines demonstrates its dedication to sharing its success by announcing a cash dividend of 260 million USD and remains committed to investor returns with its current share buyback program.

Turkish Airlines’ total revenues in 2024 increased by 8.2% year-on-year to 22.7 billion USD. Passenger revenue rose by 4% under intensifying competition, while cargo revenue grew by around 35% compared to 2023. Strengthening Türkiye’s position as a global transfer hub through its strategic initiatives and state-of-the-art infrastructure, Turkish Cargo increased its annual cargo volume by over 20%, becoming the world’s third-largest air cargo carrier according to data published by the International Air Transport Association (IATA). Representing significant value for the Turkish economy, approximately 18 billion USD of our Company’s total revenue was recorded as export revenue while total assets reached around 40 billion USD, growing 18-fold since 2002.

As an indicator of Turkish Airlines’ operational cash generation capability, EBITDAR (Earnings Before Interest, Tax, Depreciation, Amortization, and Rent) totaled 5.7 billion USD with a margin of 25.3%, aligning with the Company’s long-term targets.

On the performance of the airline, Turkish Airlines Chairman of the Board and the Executive Committee Prof. Ahmet Bolat stated: “Turkish Airlines continues to set industry benchmarks with its strong financial performance and strategic growth as showcased by our 2024 results. Despite global challenges, we remain committed to delivering our award-winning service, expanding our global network, while providing long-term value for our investors, employees, and of course our guests. As we move forward towards our 100th anniversary, we take pride in strengthening Türkiye’s position as a key player in global aviation and forge ahead on our journey to the top.”

2024 marked a year of milestones and achievements for Turkish Airlines. Reinforcing its leadership position as a global connector of continents and cultures, our Company officially received the Guinness World Records™ title for “Most Countries Flown to by an Airline”. Expanding into a new continent with the addition of Melbourne and Sydney routes to its network, Turkish Airlines also launched flights to Santiago, Chile, increasing its served countries to 131 and total international destinations to 299. In 2024, our Company was recognized as the “5-Star Global Airline” by APEX (Airline Passenger Experience Association) for the fourth time, “Best Airline in Europe” by Skytrax for the ninth time and “Most Sustainable Flag Carrier Airline” for the third time by World Finance.

Aiming to expand its fleet to more than 800 aircraft by 2033 as part of its 100th Anniversary Strategy, Turkish Airlines increased its number of aircraft by 12% in 2024 to 492, despite bottlenecks in aircraft production. Targeting to minimize costs and currency risks while expanding its modern fleet, our Company continued its diversification strategy in aircraft financing and completed a total of 1.8 billion USD in aircraft financing throughout the year. Turkish Airlines also became the first airline outside of China to secure financing in Chinese Yuan. Additionally, our Company issued a sustainability-linked loan for aircraft financing for the first time and was honored with six separate financing awards from Airline Economics in 2024.

Employing over 95 thousand people along with its subsidiaries, Turkish Airlines proudly represents Türkiye in the global air transportation industry with its unique flight network, modern fleet, superior service, and successful performance. In the following years, our contribution to the sustainable growth of the aviation sector will continue in line with the national development objectives and our 2033 strategy.

About Turkish Airlines:

Established in 1933 with a fleet of five aircraft, Star Alliance member Turkish Airlines has a fleet of 477 (passenger and cargo) aircraft flying to 352 worldwide destinations as 299 international and 53 domestics in 131 countries. More information about Turkish Airlines can be found on its official website www.turkishairlines.com or its social media accounts on Facebook, X, YouTube, LinkedIn and Instagram.

About Star Alliance:

Established in 1997 as the first truly global airline alliance, the Star Alliance network was founded on a customer value proposition of global reach, worldwide recognition, and seamless service. Since its inception, it has offered the largest and most comprehensive airline network, with a strong emphasis on enhancing the customer experience throughout the entire Alliance journey.

The member airlines are: Aegean Airlines, Air Canada, Air China, Air India, Air New Zealand, ANA, Asiana Airlines, Austrian, Avianca, Brussels Airlines, Copa Airlines, Croatia Airlines, EGYPTAIR, Ethiopian Airlines, EVA Air, LOT Polish Airlines, Lufthansa, Shenzhen Airlines, Singapore Airlines, South African Airways, SWISS, TAP Air Portugal, THAI, Turkish Airlines, and United.

Overall, the Star Alliance network currently offers 17,500 daily flights to over 1,150 airports in 189 countries. Further connecting flights are offered by Star Alliance Connecting Partner Juneyao Airlines.

Embassy REIT Invests Rs 100 Crore To Support Bengaluru’s Metro Expansion

* Signs definitive agreement with BMRCL to develop Kadubeesanahalli Metro Station on ORR

Embassy Office Parks REIT (NSE: EMBASSY / BSE: 542602) (‘Embassy REIT’), India’s first listed REIT and the largest office REIT in Asia by area, has committed an investment of ?100 crore to fund the Metro ORR Project, supporting Bengaluru’s urban infrastructure development. The investment will contribute to the construction of the Kadubeesanahalli Metro Station on the Outer Ring Road (ORR), which will be named "Embassy TechVillage Kadubeesanahalli Metro Station" for a period of 30 years from its commercial operation date.

Embassy REIT and Bangalore Metro Rail Corporation Limited (BMRCL) signed a definitive agreement on February 28, 2025, for the development of this new metro station along the ORR corridor. The Metro ORR Project, undertaken by BMRCL, is a major infrastructure initiative that spans 17 km from Central Silk Board Junction to K.R. Puram. This corridor, which includes 16 stations, aims to enhance connectivity for thousands of commuters in Bengaluru’s key business districts, including the landmark Embassy TechVillage business park.

Ritwik Bhattacharjee, Chief Executive Officer* of Embassy REIT, said,

"As Bengaluru continues to grow as a global business hub, infrastructure must evolve alongside it. Embassy REIT is committed to solving key urban challenges through strategic and long-term investments in mobility solutions. Previously, we invested over ?180 crores to build a flyover at Embassy Manyata Business Park, significantly decongesting traffic in the area. Additionally, we made around ?30 crores investment in a pedestrian footbridge for safer movement. Our continued support for the metro expansion reflects our belief in public-private partnerships to drive meaningful change in the city’s infrastructure."

Mr. M. Maheshwar Rao, Managing Director, BMRCL, said,

“We are extremely happy that Embassy REIT has come forward with their support for sustainable urban development and urban transport. The Outer Ring Road corridor is an important mobility route in Bengaluru, connecting key commercial hubs, IT parks, and residential areas. Such partnerships are instrumental in accelerating infrastructure growth, and we look forward to working together to build a more accessible and sustainable metro network for the city.”

About Embassy REIT

Embassy REIT is India’s first publicly listed Real Estate Investment Trust and the largest office REIT in Asia, by area. Embassy REIT owns and operates a 51.1 msf portfolio of 14 office parks in India’s best-performing office markets of Bengaluru, Mumbai, Pune, the National Capital Region (‘NCR’) and Chennai. Embassy REIT’s portfolio comprises 38.9 msf completed operating area and is home to 263 of the world’s leading companies. The portfolio also comprises strategic amenities, including four operational business hotels, two under?construction hotels, and a 100 MW solar park supplying renewable energy to tenants. Embassy REIT’s industry leading ESG program has received multiple accolades from renowned global institutions and was awarded a 5-star rating both from the British Safety Council and GRESB. Embassy REIT was included in the 2023 Dow Jones Sustainability Indices, making it the first REIT in India to be recognised for its sustainability initiatives by a leading global benchmark. For more information, visit www.embassyofficeparks.com.

CakeZone And Olio Collaborate With Nick India To Launch ‘Motu Patlu’ Themed Products & Experience

~ Collaboration brings the iconic animated duo to life with exclusive desserts, kids’ meals, and in-store experiences ~

CakeZone, and Olio Pizza from the house of Bangalore based F&B brands, Curefoods, collaborates with Nick India to introduce iconic Motu-Patlu themed products and experiences. Launching this week, this association aims to captivate children across India.

As a part of the collaboration, Motu Patlu characters will be prominently featured across the dessert brand, CakeZone, and the pizza brand, Olio’s offering, including product packaging and in-store branding. Customers can look forward to themed products, limited-edition freebies, and special activities designed to create delightful moments for children and families.

Ankit Nagori, Founder, Curefoods, said, "We are thrilled to collaborate with Nick India to bring their iconic characters, Motu Patlu, to life through this exciting partnership. As one of the most popular and enduring kids’ shows for over 13 years, Motu Patlu has captivated young audiences with its humor, heartwarming friendship, and light-hearted storytelling. This collaboration seamlessly blends nostalgia with the joy of indulging in our products, creating a truly special experience for families and children. We believe this initiative will strengthen our brand’s connection with young audiences while bringing fun and happiness into every household."

Sachin Puntambekar, Head - JioStar Consumer Products, said, “Motu Patlu holds a special place in the hearts of our fans and this collaboration with CakeZone and Olio Pizza allows us to bring their magic to life in a fun-filled culinary experience. By bringing our beloved characters into everyday moments, we are further strengthening their deep emotional connection with fans.”

CakeZone will introduce a special range of cakes and single-serve desserts, while Olio Pizza will launch the Motu Patlu Kids Meal with collectible add-ons. Customers can also enjoy limited-edition merchandise and giveaways, including activity booklets, party hats, lunch boxes, and stationery. Select offline outlets in Bangalore, Mumbai, and Pune will offer Motu Patlu-themed coloring placemats for kids, along with exclusive birthday party packs featuring character décor, customized cakes, and interactive activities. Additionally, themed offers around Children’s Day, Back-to-School season, and other key occasions will further enhance customer engagement.

Since its debut on Nick India in 2012, Motu Patlu adapted from the classic comic strip Lotpot, is filled with comical situations and clumsy actions. The show follows the misadventures of two best friends, Motu and Patlu, as they stumble into trouble and find their way out through sheer luck. Its light-hearted humor, engaging storytelling, and relatable characters have made it a household favourite among young audiences.

The Motu Patlu-themed products will be available for six months starting last week of February across CakeZone and Olio’s online platforms and select offline outlets in Bangalore, Mumbai, and Pune. Through this collaboration, Curefoods and Nick India aim to offer a fresh, interactive culinary experience that blends entertainment and food, making every moment a memorable adventure for Motu Patlu fans.

About Curefoods:

Curefoods is a Bangalore-based house of F&B brands, founded by Ankit Nagori in 2020. It houses brands like Kitchens of EatFit, CakeZone, Nomad Pizza, Sharief Bhai, Olio Pizza, Frozen Bottle, Krispy Kreme, Arambam, and many more. As of February 2025, it operates over 500 locations across 50 cities in India, offering more than 10 cuisines. Additional information on Curefoods is available at https://curefoods.in.

Coca-Cola India & SLMG Beverages Make History With Guinness World Record For Its 250ft Cooler Wall At Maha Kumbh 2025

In a remarkable feat of scale and innovation, Coca-Cola India and SLMG Beverages have set a Guinness World Record for the largest temporary display of chilled drinks. This record-breaking achievement, accomplished at Maha Kumbh in Prayagraj, underscores the companies’ shared vision of delivering refreshing experiences while setting new industry benchmarks.

The iconic display, spanning 250 feet, featured a 100-door cooler wall packed with 32,737 chilled bottles, creating an awe-inspiring spectacle at Maha Kumbh. Officially recognized by Guinness World Records, this milestone is a testament to Coca-Cola India and SLMG Beverages’ commitment to excellence, operational scale, and ability to create unforgettable moments for millions of visitors at this historic gathering.

Sundeep Bajoria, Vice President of India Operations at Coca-Cola India, said, "Our Guinness World Record-winning cooler wall sets a new global benchmark in innovation and execution. As visitors gathered at one of the world’s largest events, our partnership with SLMG Beverages ensured seamless hydration for all at a massive scale. This aligns with the Uttar Pradesh government’s efforts to deliver a world-class Maha Kumbh, showcasing India’s heritage on the global stage."

Costin Mandrea, Chief Executive Officer, SLMG Beverages said, "The strategy behind this innovation was to ensure hydration for millions at the Maha Kumbh. Setting a Guinness World Record with Coca-Cola India demonstrates SLMG’s ability to execute at scale while delivering refreshing chilled beverages to all. This achievement reflects our commitment to innovation and quality hydration, driven by a shared vision for growth and impact.”

This milestone sets a new reference point for large-scale activations at global events, showcasing logistical precision required to create such an expansive chilled beverage display.

About Coca-Cola India

Coca-Cola in India is one of the country’s leading beverage companies, offering a range of high-quality and refreshing beverage options to consumers. The company, in line with its vision of ‘Beverages for Life’, offers a wide portfolio of products which includes hydration, sports, sparkling, coffee, tea, nutrition, juice and dairy based products. In India its beverage range includes Coca-Cola, Coca-Cola Zero Sugar, Diet Coke, Thums Up, Charged, Fanta, Limca, Sprite, Maaza, Minute Maid range of juices and juice beverages. The Company also offers hydration beverages including Limca Sportz, Smartwater, Kinley, Dasani and Bonaqua packaged drinking water and Kinley Club Soda. Premium products constitute Schweppes range and Smartwater. In addition, it offers Costa Coffee and organic green tea-based beverage- Honest Tea amongst its range of coffee and Tea. The Company is constantly transforming its portfolio, from reducing sugar in its drinks to bringing innovative new products to market.

The Company along with its owned bottling operations and franchise bottling partners has a strong network of close to 4 million retail outlets through which it refreshes millions of consumers across the country. It seeks to positively impact people’s lives, communities and the planet through water replenishment, packaging recycling, sustainable agriculture initiatives and carbon emission reductions across its value chain.

Globally together with its bottling partners, The Coca-Cola Company employs more than 700,000 people, helping to bring economic opportunity to local communities worldwide. Learn more at www.cocacolacompany.com and follow us on Twitter, Instagram, Facebook and LinkedIn.

Successful Implementation Of Direct Payout Settlement For Securities

The Market Infrastructure Institutions (MIIs), comprising Exchanges, Clearing Corporations and Depositories, have successfully implemented the Direct Payout Settlement mechanism for securities on February 25, 2025, under the guidance of Securities and Exchange Board of India (SEBI).

This initiative aims to enhance efficiency, transparency, and investor protection, ensuring seamless direct credit of securities to clients’ demat accounts. We believe this mechanism will strengthen market integrity and operational efficiency.

About National Securities Depository Limited (NSDL)

NSDL is India’s first and leading depository. It is the first depository to reach ?500 Lakh Crore (US $ 6 Trillion) in value of assets held in custody in September 2024.[1] The market share of NSDL in value of demat assets is 86.83% in fiscal year 23-24.[2]  NSDL demat accounts are in 99.3% of pin codes in India with 63,000+ service centres in FY 23-24 covering every state & union territory.[3] As of March 31, 2023, NSDL is the largest depository in India in terms of number of issuers, number of active instruments, market share in demat value of settlement volume and value of assets held under custody.

NSDL facilitates holding and transfer of securities in dematerialised form. NSDL offers an array of value-added services to investors and new age Brokers and Participants such as NSDL SPEED-e App, APIs/Technology integrations, Margin pledge, e-DIS Digital LAS, FPI monitoring and many more.

NSDL, through its subsidiaries offers a range of IT enabled solutions:

NSDL Database Management Limited (“NDML”) is currently providing services for e-governance project for SEZs in India such as SEZ Online for the Government of India, KYC Registration Agency (KRA), Insurance Repository for e-insurance policies, managing paper  to  follow  process  on  behalf  of  National Payments Corporation of India, assisting SEBI registered capital market intermediaries to digitally onboard new clients and perform necessary diligence and KYC, and assisting academic institutions in issuing awards digitally.

NSDL Payments Bank Limited (“NPBL”) is currently engaged in the business of payment banking, including accepting demand deposits, providing payment solutions, remittances or recharge services through its mobile application, issuance of debit cards and co-branded prepaid cards, and offering domestic money transfer, mutual fund investment services, bank verification services for corporate brokers and insurance investment services.

Bounteous x Accolite Appoints Arunkumar N.T. To The Board Of Directors

* Arunkumar N.T. brings in over three decades of executive leadership experience to guide Bounteous x Accolite’s next phase of growth.

Bounteous x Accolite, a global leader in providing end-to-end digital transformation services, has announced the appointment of Arunkumar N.T. to its Board of Directors.

Arunkumar N.T. is an accomplished CEO and Board Director with extensive global experience across industries such as Banking & Financial Services, Technology, Telecom and Consumer products in both B2B and B2C contexts. His leadership on various Board’s and strategic advisory roles has helped several large global firms in digital transformation, growth initiatives and mergers and acquisitions, and the integration of new technologies like AI. Additionally, he coaches CEOs in re-imagining organizational and market growth, building world-class leadership teams and strategizing corporate structures for public & private offerings.

Arun Joined New Mountain Capital as a Senior Advisor in July 2023, with a specific focus on India and AI / Digital Transformation.

“I am delighted to help Bounteous x Accolite become a world-leading digital engineering company, in line with New Mountain Capital's strategy of driving value by bringing the best of people, technology and products to global markets.” said Arunkumar N.T. “Bounteous x Accolite is uniquely positioned to deliver an AI-first business strategy to its customers through its industry expertise and digital capabilities, and I look forward to our successful partnership.”

Leela Kaza, Founder and Co-CEO, of Bounteous x Accolite, said, “We are delighted to welcome Arunkumar N.T. to the Bounteous x Accolite Board. His extensive experience in establishing and scaling global technology centers for leading Fortune 500 companies will be invaluable as we navigate our next phase of our growth. India, with its top-notch technology talent, is the home to many large corporations and GCCs will continue to open in India, supporting these large organizations. Arun’s strategic guidance will help us stay ahead of the curve as we aspire to be the most trusted digital innovation partner to the world’s most ambitious companies.”

About Bounteous X Accolite:

Bounteous is a premier end-to-end digital transformation consultancy dedicated to partnering with ambitious brands to create digital solutions for today’s complex challenges and tomorrow’s opportunities. With uncompromising standards for technical and domain expertise, we deliver innovative and strategic solutions in Strategy, Analytics, Digital Engineering, Cloud, Data & AI, Experience Design, and Marketing. Our Co-Innovation methodology is a unique engagement model designed to align interests and accelerate value creation. Our clients worldwide benefit from the skills and expertise of over 4,000+ expert team members across the Americas, APAC, and EMEA. By partnering with leading technology providers, we craft transformative digital experiences that enhance customer engagement and drive business success. Discover more about our impactful work and expertise by visiting www.bounteous.com and following us on X, LinkedIn, Facebook, and Instagram.

India At The Forefront Of Global AI Innovation: Piyush Goyal At Mumbai Tech Week 2025

* Human Intelligence Will Always Surpass AI: Piyush Goyal on Responsible AI Adoption

* Union Minister Piyush Goyal Highlights India's Leading Role In AI

Union Minister of Commerce and Industry, Piyush Goyal, delivered a powerful address emphasizing India's indispensable role in the global AI landscape. He asserted that "the global journey of AI would be incomplete without India," highlighting the country's vast talent pool, strong technological capabilities, and commitment to responsible AI development.

Key Highlights from Piyush Goyal’s Speech:

India's Commitment to AI: Goyal reaffirmed that AI is a long-term commitment for India, deeply integrated into international trade agreements and global collaborations.

AI and Human Intelligence: He stated that while AI is a transformative force, human intelligence will always surpass it. AI systems rely on data, and incorrect inputs can lead to flawed conclusions, underscoring the importance of human oversight.

Data Privacy and AI Regulations: The minister stressed the need for extensive discussions on data privacy laws. India’s latest data regulation framework encourages the free flow of data while ensuring security. India is actively engaging with seven to eight major developed nations to frame effective data-sharing policies.

India’s AI Workforce and Women in Tech: Goyal proudly shared that 43% of STEM graduates in India are women, making significant contributions to AI and technology-driven industries. He noted that global industries recognize India's technological engagement as "faster, smarter, and deeper" than many other nations.

Mumbai’s AI Growth: Highlighting Mumbai’s role as a rising AI hub, he encouraged startups and tech innovators to contribute towards AI-driven solutions that enhance business efficiency, improve daily life, and drive economic growth.

India’s AI Adoption: Goyal stated that India is already the fourth-largest adopter of AI globally. He emphasized that AI is integral to India’s Free Trade Agreements, trade negotiations, and regulatory frameworks, reflecting its significance in shaping the country’s digital economy.

AI for Development: The government has been working closely with AI stakeholders, launching initiatives such as the Responsible AI for Youth, AI for All Mission, and the National AI Portal. These programs aim to equip India’s youth with the skills necessary to thrive in the AI era.

Human-Centric AI Approach: While AI will enhance efficiency and economic growth, Goyal emphasized that it remains artificial. "The human mind has created AI, and it will always be superior to artificial intelligence," he noted, underscoring the importance of human judgment in AI applications.

Technological Evolution and Workforce Readiness: Comparing AI to past industrial revolutions, he urged businesses and individuals to focus on reskilling and adapting to the AI-driven economy rather than fearing job losses. "Smart nations with forward-thinking leadership, like India under Prime Minister Narendra Modi, will always be at the cutting edge of technology adoption."

Goyal concluded his speech by reaffirming India’s vision of an inclusive, AI-powered future that balances technological progress with economic growth and social responsibility.

About Mumbai Tech Week 2025:

Mumbai Tech Week is one of Asia’s largest AI-focused technology events, bringing together global leaders, policymakers, entrepreneurs, and innovators. The 2025 edition focuses on AI’s transformative power across various industries, reinforcing India’s position as a leader in digital innovation.