Turkish Airlines becomes world's 8th-strongest airline brand

National flag carrier Turkish Airlines now ranks the world's eighth-strongest airline brand with 78.1 points, according to a survey by a leading independent valuation and strategy consultancy.

Shooting like a meteorite, Turkish Airlines jumped 23 places from a year ago right into the top 10, the Brand Finance survey showed.

Commenting on the news, Turkish Airlines Chairman Ahmet Bolat said on Tuesday: "With the responsibility of being our country's national flag carrier and the power of being the airline that flies to more countries than any other airline in the world, we will continue to carry our brand to many more successes."

Japan's All Nippon Airways (ANA) was the strongest airline brand this year with 85 points. The airline resumed international flights in 2022 after a two-year hiatus due to the COVID-19 pandemic.

It was followed by Korean Air and Malaysia's budget airline AirAsia, the survey showed.

Established in 1933 with a fleet of five aircraft, Turkish Airlines currently boasts a fleet of 416 (passenger and cargo) aircraft flying to 344 worldwide destinations, including 291 international and 53 domestic.

Having calculated brands’ financial worth for over 20 years, Brand Finance now values 5,000 brands every year.

Meanwhile, Brand Finance announced that US-based Delta Airlines is once again the world's most valuable brand for 2023 with a brand value of $8.9 billion, up 22% year-on-year.

"The pandemic may have grounded airplanes, but it couldn’t stop people from dreaming of travel. As the world reopens, airlines are poised to take off, with their brand values rising quickly," said Brand Finance Director Savio D’Souza.

The global airline industry is expected to recover in 2023, with revenues reaching $779 billion and a net profit of $4.7 billion, read the survey.

Ethiopian Airlines was the fastest-growing airlines brand globally, with its brand value rising 79% this year to become Africa's largest airline brand with $498 million.

Turkish Airlines ranked the 17th most-valuable airline brand this year, moving up from 19th in 2022 thanks to a 26% jump in its brand value.