Invest News DetailTravelVideo.tv - Turkey's state-run airliner Turkish Airlines (THY) has become the seventh largest airline company in Europe, outpacing Italy's Alitalia in terms of passengers carried in the first seven months of the year. THY carried 12.16 million passengers, a 15.7% rise in January-July period, and climbed to the 7th rank, according to figures given by the Association of European Airlines. THY carried 14.9 million passengers in the January to August period, a rise year-on-year of 15.4%. The Turkish carrier said it is aiming to increase passenger traffic to 23.5 million in 2008, from 19.6 million passengers last year despite the worsening conditions in the global sector. In the next five years, fast growing THY is expected to jump into first five in the list of Europe's biggest airline companies. THY, one of the fastest-growing airlines in Europe, grew more than 20% annually in the past five years despite the worsening global outlook of the sector and increased domestic competitiveness.