The financial performance of Pegasus Airlines in 2022 has led to an upgrade in its credit rating. The airlines’ long-term credit rating was upgraded from B+ to BB- by Fitch Ratings on April 14 2023 and from B to B+ by S&P Global Ratings on 23 May 2023. Fitch and S&P announced their credit ratings with Negative Outlook, mirroring that of the current macroeconomic conditions, and revised the credit rating of the senior unsecured debt issued by Pegasus Airlines accordingly. Barbaros Kubatoğlu, Chief Financial Officer (CFO) of Pegasus Airlines said: “It is of great significance to us that our 2022

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