Turkish Airlines (THYAO) — 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). Check how aggressively does Turkish Airlines reinvest cash to assess the company's total reinvestment commitment from operating cash flow.
Financial Flexibility Index
Free Cash Flow
Total Liabilities
Capital Expenditures
Turkish Airlines Financial Flexibility Index (2003–2025)
Historical Financial Flexibility Index trend for Turkish Airlines across 22 annual periods. For the full cash flow conversion analysis, see THYAO cash generation efficiency.
Annual Financial Flexibility Index for Turkish Airlines (2003–2025)
Year-by-year free cash flow to debt coverage for Turkish Airlines. Explore THYAO debt coverage from operations to assess how comfortably operating cash covers total debt obligations.
| 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 | — |