National flag carrier Turkish Airlines now ranks as the world's eighth-strongest airline brand with 78.1 points, according to a survey by a leading independent valuation and strategy consultancy.
Rising like a star, Turkish Airlines jumped 23 places from a year ago right into the top 10, the Brand Finance survey showed.
Commenting on the report, Turkish Airlines Chairperson Ahmet Bolat on Tuesday said, "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 propel 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 because of 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 U.S.-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 airline 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.