In this study, Key Performance Indicators (KPIs) have been investigated by using balanced scorecard model in aviaton sector with example of Turkish Airlines. First part, the Concept of Key Performance Indicators and Performance Measurement, Elements and Feature of KPIs and Balanced Scorecard Models are discussed. Second Part, Secondary data used for obtaining information for creating balanced scorecard models for KPIs. Turkish Airlines was choosed as an example for creating KPIs. As a result of the analysis of the information obtained, the availability of KPIs in aviation performance measurement has been observed with the example of Turkish Airlines. Consequently, Turkish Airlines has been compared to competitors and forward performance targets have been determined.