Flag carrier Turkish Airlines targets revenue of 11 billion lira ($7 billion) and passenger growth of 20 percent in 2011 as it widens its long- haul network, chief executive Temel Kotil said in an interview.   

The growth in passengers, among the fastest in Europe, is due to gains in transit traffic, which now accounts for a third of international fares, Kotil told Reuters late on Wednesday.   

The Istanbul-based company in recent years has rapidly expanded its fleet and added new destinations to its schedule to grab market share from European and Middle Eastern peers.   

The carrier is entering far-flung markets like Guangzhou, China and Los Angeles in the first quarter and will add at least eight more medium and long-haul spots later in 2011.

'We offer an alternative in markets where we are a new player,' Kotil said, adding the company would remain competitive in fares to attract new customers despite any rise in costs with the new entries.

'We are able to cover new trans-Atlantic destinations because of the number of our eastbound routes, and we cover new destinations in the Far East with strong European legs.'    

Kotil added that the load factor, which measures the capacity used by passengers, will remain almost unchanged at 73.8 percent. It was 73.7 percent in 2010. The fleet will grow to at least 175 planes from 153, he said.

Turkish Airlines fell short of its target of 31 million passengers in 2010, posting growth of 16 percent to 29.1 million people, according to a stock-exchange filing on Thursday.   

Passenger capacity, or available seat kilometres (ASK), will reach 84 billion from 65 billion last year, up 29 percent, and revenue passenger kilometres (RPK) will reach 62 billion from 47.9 billion last year, Kotil said. - Reuters