Turkish national carrier Turkish airline reported their biggest, yet horrifying, loss since 1999 during the first quarter of this year as security concerns and geopolitical risks continue to push their way in the country.

The reported loss amounted to TRY 1.24 billion compared with TRY 373 million in 2015, stated the HQ of the  airline in Istanbul.

After the carrier posted a record profit in 2015 thanks to the oil pricing downwards trends, these results come as a very hard blow. As the ongoing violence proceeds between the neighboring countries Iraq and Syria while the country suffers at the same time from the Kurdish guerillas, the tourism industry continues to suffer losses as Istanbul and Ankara receive less and less tourists every month.

Turkish Tourism dropped catastrophically over the past 8 months and according to the Turkish government, this was marked as the longest drop since 2006.