If 2021 was the year of recovery for global aviation, 2022 could turn out to be a boom year, especially for Turkiye's national air carrier. Boosted by strong demand during the summer tourism season, Turkish Airlines saw huge increases in flights compared to last year. And that translated into a surge in its stock price, with its shares rising nearly 600% this year. That made Turkish Airline's market cap higher than Germany's flag carrier Lufthansa.

Last week, the airline saw its value reach more than 190 billion Turkish lira, or just over $10 billion dollars. Lufthansa currently stands at just $9.7 billion and has seen its share rise by 25% this year. Backed by strong growth in its cargo business, Turkish Airlines says its capacity levels are nearing pre-pandemic levels. But the brightest news was the more than 60 million passengers it carried in the first 10 months of the year, just shy of the 63 million it saw back in 2019. So can Turkiye's flagship airline carry that momentum into next year, and has the global aviation industry finally recovered?

Guests

Taha Arvas

Adjunct Professor of Finance at Bogazici University

Fabrizio Poli

Aviation Analyst