Turkish Airlines (THYAO) — Defensive Interval Ratio

Latest as of December 2025: 196 days

Turkish Airlines (THYAO) has a Defensive Interval Ratio of 196 days as of December 2025. Defensive assets of TL5.54 Billion (cash TL-, short-term investments TL4.47 Billion, receivables TL1.07 Billion) cover 196 days of daily cash needs of TL28.22 Million/day. See Turkish Airlines working capital to net assets to evaluate short-term liquidity relative to the company's equity base.

Defensive Interval Ratio

196 days
Days of operational coverage

Defensive Assets

TL5.54 Billion
Cash + ST Investments + Receivables

Daily Cash Need

TL28.22 Million
Current Liabilities ÷ 365

Current Liabilities

TL10.30 Billion
TRY

Turkish Airlines Defensive Interval Ratio (2000–2025)

This chart shows how Turkish Airlines's Defensive Interval Ratio has evolved across 26 annual periods from 2000 to 2025. As of December 2025, the ratio stands at 196 days, meaning defensive assets of TL5.54 Billion can fund 196 days of operations without new revenue. See THYAO equity financing ratio to measure how much of total assets are equity-financed.

Annual Defensive Interval Ratio for Turkish Airlines (2000–2025)

The table below presents the year-by-year Defensive Interval Ratio for Turkish Airlines from 2000 to 2025, covering 26 annual filings. Each row shows defensive assets, daily cash need, the DIR in days, and the change in days compared to the prior year. For live market cap and the full company financial profile, see Turkish Airlines market capitalisation.

Year DIR (days) Defensive Assets (TRY) Daily Cash Need Cash ST Investments Change (days)
2025 196 days TL5.54 Billion TL28.22 Million/day TL- TL4.47 Billion ▲ +106 days
2024 91 days TL84.54 Billion TL930.23 Million/day TL- TL83.64 Billion ▼ -125 days
2023 215 days TL158.17 Billion TL734.13 Million/day TL- TL157.31 Billion ▲ +180 days
2022 35 days TL14.82 Billion TL422.03 Million/day TL- TL13.82 Billion ▲ +31 days
2021 4 days TL931.51 Million TL247.79 Million/day TL- TL5.00 Million ▼ -2 days
2020 6 days TL768.00 Million TL129.81 Million/day TL- TL131.00 Million ▼ -48 days
2019 54 days TL5.19 Billion TL97.03 Million/day TL- TL399.49 Million ▼ -14 days
2018 67 days TL5.01 Billion TL74.65 Million/day TL- TL516.56 Million ▼ 0 days
2017 67 days TL2.98 Billion TL44.41 Million/day TL- TL193.85 Million ▲ +13 days
2016 54 days TL2.34 Billion TL43.38 Million/day TL- TL348.18 Million ▼ -4 days
2015 58 days TL1.77 Billion TL30.82 Million/day TL- TL180.00 Million ▼ -15 days
2014 73 days TL1.70 Billion TL23.30 Million/day TL- TL201.00 Million ▼ -5 days
2013 78 days TL1.42 Billion TL18.23 Million/day TL- TL84.06 Million ▲ +5 days
2012 72 days TL896.39 Million TL12.42 Million/day TL- TL- ▼ -27 days
2011 99 days TL1.08 Billion TL10.83 Million/day TL- TL209.31 Million ▼ -4 days
2010 104 days TL722.93 Million TL6.96 Million/day TL- TL47.85 Million ▼ -33 days
2009 137 days TL733.08 Million TL5.34 Million/day TL- TL203.75 Million ▼ -277 days
2008 414 days TL1.83 Billion TL4.42 Million/day TL- TL1.40 Billion ▲ +321 days
2007 93 days TL291.76 Million TL3.12 Million/day TL- TL- ▼ -15 days
2006 109 days TL320.04 Million TL2.94 Million/day TL- TL- ▼ -98 days
2005 207 days TL679.60 Million TL3.28 Million/day TL- TL477.07 Million ▼ -59 days
2004 265 days TL529.38 Million TL1.99 Million/day TL- TL363.84 Million ▲ +206 days
2003 59 days TL118.26 Trillion TL2.01 Trillion/day TL- TL- ▼ -58 days
2002 117 days TL161.64 Trillion TL1.38 Trillion/day TL- TL9.77 Trillion ▼ -18 days
2001 136 days TL126.27 Trillion TL931.77 Billion/day TL- TL12.45 Trillion ▼ -14 days
2000 149 days TL94.00 Trillion TL629.58 Billion/day TL- TL38.00 Billion —
DIR = (Cash + Short-term Investments + Net Receivables) / (Daily Cash Expenses)