Turkish Airlines Financial Flexibility Index
Turkish Airlines financial flexibility index. Turkish Airlines (THYAO) has a Financial Flexibility Index of 0.07x as of December 2025. Free cash flow of TL1.73 Billion (operating CF TL1.07 Billion minus capex TL660.00 Million) represents 0% of total liabilities (TL25.29 Billion). Explore THYAO capital expenditure intensity to see what proportion of operating cash flow is directed to capital expenditures.
Financial Flexibility Index
Free Cash Flow
Total Liabilities
Capital Expenditures
Financial Flexibility Index of Turkish Airlines (2003–2025)
Financial flexibility index of Turkish Airlines from 2003 to 2025. Historical Financial Flexibility Index trend for Turkish Airlines across 22 annual periods. Check Turkish Airlines cash flow reinvestment rate to assess the company's total reinvestment commitment from operating cash flow.
Turkish Airlines Financial Flexibility Index by Year (2003–2025)
Turkish Airlines financial flexibility index by year from 2003 to 2025. Year-by-year free cash flow to debt coverage for Turkish Airlines. For the full cash flow conversion analysis, see THYAO operating cash flow.
| Year | Flexibility Index | Free Cash Flow (TRY) | Operating CF | Total Liabilities | YoY Change |
|---|---|---|---|---|---|
| 2025 | 0.25x | TL6.32 Billion | TL4.30 Billion | TL25.29 Billion | ▲ +3412.7% |
| 2024 | 0.01x | TL5.12 Billion | TL3.84 Billion | TL719.59 Billion | ▼ -27.0% |
| 2023 | 0.01x | TL5.78 Billion | TL4.91 Billion | TL592.98 Billion | ▼ -97.1% |
| 2022 | 0.34x | TL133.65 Billion | TL117.01 Billion | TL397.14 Billion | ▼ -88.3% |
| 2021 | 2.89x | TL56.90 Billion | TL49.36 Billion | TL19.70 Billion | ▲ +3040.2% |
| 2020 | 0.09x | TL13.60 Billion | TL5.60 Billion | TL147.89 Billion | ▼ -91.3% |
| 2019 | 1.05x | TL18.78 Billion | TL13.03 Billion | TL17.83 Billion | ▲ +3.2% |
| 2018 | 1.02x | TL15.01 Billion | TL9.61 Billion | TL14.70 Billion | ▲ +8.3% |
| 2017 | 0.94x | TL12.03 Billion | TL9.01 Billion | TL12.77 Billion | ▲ +368.1% |
| 2016 | 0.20x | TL2.69 Billion | TL1.94 Billion | TL13.38 Billion | ▲ +11.6% |
| 2015 | 0.18x | TL6.05 Billion | TL4.04 Billion | TL33.55 Billion | ▲ +2.4% |
| 2014 | 0.18x | TL4.00 Billion | TL2.64 Billion | TL22.72 Billion | ▼ -35.8% |
| 2013 | 0.27x | TL5.06 Billion | TL2.84 Billion | TL18.44 Billion | ▲ +8.4% |
| 2012 | 0.25x | TL3.39 Billion | TL2.04 Billion | TL13.38 Billion | ▲ +14.8% |
| 2011 | 0.22x | TL2.63 Billion | TL1.55 Billion | TL11.91 Billion | ▼ -20.1% |
| 2010 | 0.28x | TL1.91 Billion | TL861.17 Million | TL6.90 Billion | ▼ -48.3% |
| 2009 | 0.53x | TL2.74 Billion | TL1.18 Billion | TL5.13 Billion | ▲ +52.5% |
| 2008 | 0.35x | TL1.71 Billion | TL1.48 Billion | TL4.89 Billion | ▼ -30.8% |
| 2006 | 0.51x | TL1.51 Billion | TL435.57 Million | TL2.99 Billion | ▲ +26.1% |
| 2005 | 0.40x | TL909.05 Million | TL435.94 Million | TL2.27 Billion | ▲ +67.9% |
| 2004 | 0.24x | TL439.02 Million | TL320.45 Million | TL1.84 Billion | ▼ -14.6% |
| 2003 | 0.28x | TL577.50 Trillion | TL514.56 Trillion | TL2065.74 Trillion | — |