Pegasus Airlines- Statistics & Facts
Pegasus Airlines was established in 1990 as a joint venture between Aer Lingus, Silkar Yatirim, and Net Holding and officially began operations in 2005 as a low-cost airline in Turkey. The airline handles a diverse range of domestic and international flights, with a particular emphasis on Europe, the Middle East, and Asia. The company has many hubs, but the most important one is Istanbul Sabiha Gökçen International Airport, which hosted about 19.4 million passengers in 2023. Pegasus currently employs 7,670 employees and operates a fleet of approximately five years old aircraft to 130 destinations.
The coronavirus outbreak significantly impacted global airlines, regardless of their business models, and Pegasus Airlines was no exception. Between 2019 and 2020, the passenger traffic of the Turkish low-cost carrier experienced a decline of 52 percent. Even though, that year, the operating expenses dropped to 6.52 million euros, it still couldn’t narrow down the decreasing trend in the company's financial accounts. Nonetheless, in subsequent years, financial accounts commenced to recover following the relaxation of travel restrictions imposed by global governments. In 2023, the company's revenue amounted to nearly 2.7 billion euros, significantly higher than the 629 million euros recorded in 2020.
As of 2023, Pegasus Airlines was the second most punctual airline worldwide, with 84.03 percent of all flights departing less than 15 minutes later than scheduled. This score was lower than Qatar Airways 87.36 percent on-time performance, the highest recorded in that period. According to the Statista survey conducted in June 2023 in Germany, 47 percent of the respondents were aware of Pegasus Airlines; among them, 21 percent favored flying with low-cost airlines. The same survey conducted in the United Kingdom revealed that 30 percent of those surveyed were already familiar with the name Pegasus Airlines.
Pegasus' financial performance
The coronavirus outbreak significantly impacted global airlines, regardless of their business models, and Pegasus Airlines was no exception. Between 2019 and 2020, the passenger traffic of the Turkish low-cost carrier experienced a decline of 52 percent. Even though, that year, the operating expenses dropped to 6.52 million euros, it still couldn’t narrow down the decreasing trend in the company's financial accounts. Nonetheless, in subsequent years, financial accounts commenced to recover following the relaxation of travel restrictions imposed by global governments. In 2023, the company's revenue amounted to nearly 2.7 billion euros, significantly higher than the 629 million euros recorded in 2020.
Turkey's most on-time airlines
As of 2023, Pegasus Airlines was the second most punctual airline worldwide, with 84.03 percent of all flights departing less than 15 minutes later than scheduled. This score was lower than Qatar Airways 87.36 percent on-time performance, the highest recorded in that period. According to the Statista survey conducted in June 2023 in Germany, 47 percent of the respondents were aware of Pegasus Airlines; among them, 21 percent favored flying with low-cost airlines. The same survey conducted in the United Kingdom revealed that 30 percent of those surveyed were already familiar with the name Pegasus Airlines.
