Low-cost carrier ups profit in first 9 months

ISTANBUL – Hürriyet Daily News

Pegasus Chairman Ali Sabancı poses during an interview. DHA photo

Turkey’s low-cost carrier Pegasus’ profit showed a fall in the last quarter but the company’s gross profit rose considerably in the first nine months of this year.

Pegasus posted 114.7 million Turkish Liras ($57.3 million) net profit in the third quarter with a 27 percent fall when compared to the same period a year earlier, the company announced to the Public Disclosure Platform late Nov. 11.

However, the company’s profits before taxes reached 226 million liras in the first nine months with a 93 percent rise from the previous year’s same period.

Also, Pegasus’ operational earnings before taxes depreciation and amortization (ebitda) rose to 464 million liras with a 53 percent increase on the same period.

Pegasus carried 12.6 million passengers marking a 22 percent rise from the previous year. Its passenger occupancy rate reached 80.6 percent with a 1.7 percent rise.

The carrier’s expanded its destination points between January and September with six new destinations abroad (Belgrade, Sarajevo, Barcelona, Doha, Bishkek and Moscow) and six new destinations in Turkey (Muş, Denizli, Kahramanmaraş, Nevşehir and Amasya). Pegasus raised its domestic route numbers to 31 and international route numbers to 45, totaling 76 routes.