Nine Month Results for Pegasus Airlines

Eleanor Steed
By Eleanor Steed November 16, 2017 17:48

Nine Month Results for Pegasus Airlines

For the first nine months of the year, Pegasus Airlines has announced revenue of TRY 4,162,118,008, up 46% on the same period the previous year, while turnover for the third quarter rose 50% year on year to TRY 2,052,853,486. Pegasus’ asset size grew 30% to TRY 7,281,455,074.

With an EBITDAR margin of 28.2% for the first nine months of the year and 44.1% for the third quarter, and an EBITDAR (Earnings before interest, taxes, depreciation, amortization, and rent) of TRY 1,171,860,045 for the first nine months and 906,027,180 for the third quarter, Pegasus recorded a net profit of TRY 492,162,067 for the first nine months and TRY 538,471,544 for the third quarter.

Pegasus achieved 14.9% growth in total guest numbers, comprising both domestic and international, in the first 9 months of the year, compared with the same period the previous year, providing its services to 20.78 million guests. It carried 12.46 million guests on routes within Turkey, a 9.1% increase year-on-year, and 7.88 million guests on its international routes, a 22.7% year-on-year increase. Increasing its ancillary revenue by 38% in the first 9 months to achieve total ancillary revenue of TRY 845,285,659, Pegasus recorded ancillary revenue per passenger of TRY 40.7, an increase of 20%.

Commenting on the announcement, Pegasus Airlines CEO Mehmet T. Nane said: “We stated at the beginning of the year that we regard 2017 as a period of renewal, and expect real growth to kick in from 2018 onwards. We worked really hard to achieve this growth, and will continue to do so. We are now reaping the fruits of the efficiency efforts we began in 2016. The figures prove that we are on the right path. Civil aviation in general is in much better condition, and has escaped the adverse effects of the past few years. We truly believe in the strength of Turkey’s economy, civil aviation sector and tourism potential.”

Eleanor Steed
By Eleanor Steed November 16, 2017 17:48