Pegasus Airlines increased its turnover to 2.86 billion TL in the first nine months of 2016, also growing its size of assets by 15% during the same period.

Pegasus increases its turnover to 2.86 billion TL in the first nine months of 2016

Pegasus Airlines increased its turnover to 2.86 billion TL in the first nine months of 2016, also growing its size of assets by 15% during the same period to reach 4.71 billion TL. Pegasus announced 43.3 million TL profit between January and September.

Financial results

Pegasus Airlines has announced its financial results for the first nine months of 2016. According to figures released by the Public Disclosure Platform (KAP), Pegasus has increased its turnover in the first nine months of 2016 by 4.5pc year-on-year to reach 2,860,023,301 TL and grown its asset size by 15pc during the same period to reach 4,712,518,533 TL.

EBITDAR

Pegasus Airlines achieved an EBITDAR (earnings before tax, interest, amortization and rental costs) of 540.44 million TL in the first nine months of 2016 with an EBITDAR margin of 18.9pc.  Pegasus’ profit for the first nine month period was  43,278,777 TL.

In the first nine months of 2016 Pegasus achieved 7.4% year-on-year growth in its total number of guests carried on domestic and international routes combined, flying a total of 18.08 million guests during this period.

The number of Pegasus guests flying on Turkish domestic routes increased by 10.9% to reach 11.42 million while the number of guests flying on international routes witnessed a 1.9% increase with a total of 6.66 million guests flown.

Pegasus also increased the number of flights it operated in the first nine months of 2016 by 10% to a total of 125,470 flights. Pegasus now flies a scheduled service to 33 destinations in Turkey and 69 in the rest of the world, bringing its total network to 102 destinations in 40 countries.

Ancillary revenue

In the first nine months of 2016 Pegasus grew its ancillary revenue by 25pc to reach 610,912,864 TL. Ancillary revenue per person saw a 16pc increase to reach 33.8TL.

About Pegasus Airlines

Pegasus Airlines launched its first charter flights in 1990 and was then acquired by ESAS Holding in 2005, since which it has been operating scheduled flights as Turkey’s first and leading low-cost airline.

Pegasus offers its guests competitively priced, comfortable and punctual point-to-point and transit flights operated with the newest aircraft under the auspices of its low-cost model.  Founded with the mission that everyone has the right to fly, Pegasus Airlines flies a scheduled service to 33 destinations in Turkey and 69 in the rest of the world, bringing its total network to 102 destinations in 40 countries, providing flights through its hub at Istanbul Sabiha Gokcen to destinations across Europe, North Africa, the Middle East, Russia and Central Asia.

Pegasus made the single largest-ever aircraft order in Turkish civil aviation history at the time in 2012 of approximately US$12 billion (list price) for 100 new Airbus aircraft, of which 25 are options.