Turkish Airlines became the latest Middle East carrier to report a fall in fortunes this year, reporting a $350 million operating loss for the year.
The figure compares with a $682 million profit figure in 2015 which suffered due to terrorism and a tenuous political environment in Turkey which led to the lowest traffic figures through the country in a decade.
The carrier suspended 30 aircraft and 22 destinations in November last year. Despite this, passengers travelling with the airline increased over the year, although "moderately" according to Chairman Ilker Ayci.
"From 2018 onwards, we will be seeing our historical growth rates,” he added.