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Pegasus reports 62% net profit increase in 2014

Pegasus Airlines has announced that its net profit in 2014 rose by 62% to TL143.3 million on sales revenue of TL3.1 billion, up 29% year-on-year.Pegasus's operational EBITDAR reached TL601 million in 2014, translating to a year-on-year growth of 13%. During 2014 Pegasus flew 19.7 million passengers, which was a growth rate of 1.5 times greater than the Turkish market average.Pegasus added 14 new routes to its network in 2014 and achieved 80% average load factors, which on its Boeing 737s represents an average of 148 passengers per flight.Pegasus Airlines general manager Sertaç Haybat commented, "We continued to increase our market share this year through healthy growth in 2014. Continuing the growth trajectory of previous years, we have thus demonstrated growth 1.5 times above the sector average, providing 19.7 million guests the opportunity to travel at our affordable fares, to have new experiences and create new memories. We continue to expand our flight network and add new aircraft to our young fleet.“The Turkish aviation sector also continued growing in 2014. The Turkish aviation sector flew 70.2 million guests in 2007; whilst in 2014 this figure reached 165.9 million guests,” Haybat continued. “The most important factor behind this growth in Turkey’s civil aviation sector has been the liberalisation of domestic routes. Likewise, every step taken to further liberalise international routes will fuel growth of Turkey’s aviation sector, thereby having a positive effect on the growth of the Turkish economy. At Pegasus, we hold steadfast to our vision of continuing our growth in 2015, and so will continue to add new destinations as well as increasing flight frequencies on existing routes while offering guests excellent on-time performance and affordable fares.”

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