Pegasus Airlines

Pegasus Airlines (Turkish: Pegasus Hava Taşımacılığı A.Ş.) (BİST: PGSUS), sometimes stylized as Flypgs, is a Turkish low-cost carrier headquartered in the Kurtköy area of Pendik, Istanbul[3] with bases at several Turkish airports.

Not to be confused with Air Pegasus.

Pegasus Airlines
IATA ICAO Callsign
PC PGT SUNTURK
Founded12 January 1991 (1991-01-12)
Operating bases
Frequent-flyer programPegasus BolBol
SubsidiariesPegasus Asia, IZair, Pegasus Cargo
Fleet size95
Destinations120
Parent companyESAS Holding
Traded asBİST: PGSUS
RevenueIncrease ₺42,732,213,696 billion (2022)[1]
Operating incomeIncrease ₺9,675,473,711 billion (2022)
Net incomeIncrease ₺7,100,145,148 billion (2022)
Total assetsIncrease ₺95,803,046,438 billion (2022)
Total equityIncrease ₺18,044,743,319 billion (2022)
Employees6,164 (December 2019)[2]
Websitewww.flypgs.com/en

History
A former Pegasus Airlines Boeing 737-400 in the airline's old livery (photographed c. 2008)
Pegasus is the winged divine horse in Greek mythology.

On 1 December 1989, two businesses, Net and Silkar, partnered with Aer Lingus to create an inclusive tour charter airline called Pegasus Airlines and services were inaugurated on 15 April 1990 with two Boeing 737-400s. In Greek mythology, Pegasus (Greek: Πήγασος Pégasos, 'strong') was a winged horse sired by Poseidon, in his role as horse-god, and foaled by the Gorgon Medusa. However, four months after the launch, Iraq invaded Kuwait and the seven-month occupation that followed had a serious effect on Turkish tourism.[4] By 1992, tourists began returning to the country and Pegasus grew with the acquisition of a third 737-400. The airline leased a further two Airbus A320s to meet the summer demand.[4]

After two positive years, Aer Lingus and Net sold their shares in the company in 1994 to Istanbul-based Yapı Kredi bank, making Pegasus a purely Turkish company.[4]

On 4 September 1997, Pegasus placed an order for one 737-400 and one 737-800 from Boeing Commercial Airplanes, making it the first Turkish carrier to place an order for the Boeing 737 Next Generation. The airline also signed lease agreements for a further 10 737-800s from the ILFC.[4]

In January 2005, ESAS Holdings purchased Pegasus Airlines and placed Ali Sabanci as the chairman. Two months later, he changed the airline from a charter airline to a low-cost airline. In November 2005, Pegasus placed an order for 12 new 737-800s from Boeing, which was backed up with an order for a further 12 737-800s in November 2008. The latter order had flexibility, as the orders could be changed to the 149-seat 737-700 or the 215-seat 737-900 depending on market demand. In 2018, Pegasus tried to acquire an A380 but later cancelled the order.[4]

In 2007, Pegasus had reached a domestic market share of 15%, which grew to 27% in 2013.[5] In 2019, it carried a total of 29.87 million passengers.

In November 2011, Air Berlin and Pegasus Airlines launched Air Berlin Turkey, which was aimed at the charter market between Germany and Turkey.[6][7][8] The new airline however was absorbed into Pegasus Airlines on 31 March 2013.[9]

In 2012, Pegasus Airlines, the second-largest airline in Turkey, signed for up to 100 A320neo Family aircraft (57 A320neo and 18 A321neo models), of which 75 were firm orders. Pegasus became a new Airbus customer and the first Turkish airline to order the A320neo. This was the largest single commercial aircraft order ever placed by an airline in Turkey at that time and was announced on 18 December 2012 at a ceremony attended by Binali Yıldırım, the Turkish Minister of Transport.[10] In June 2012, Pegasus Airlines bought 49% of the Kyrgyz air company Air Manas. On 22 March 2013, the air company operated its first flight under the brand name Pegasus Asia.[11]

The company offered 34.5% of its shares of stock to the public. The shares began to be traded at the Borsa Istanbul as BİST: PGSUS on 26 April 2013.[12]

Pegasus Airplane with a kid's drawing on its side
Pegasus Airplane with a kid's drawing on its side

In October 2016, Pegasus Airlines announced it was offering three of its aircraft on the ACMI and leasing markets, stating severely decreasing passenger numbers.[13]

Corporate affairs

The key trends for Pegasus Airlines are (as of the financial year ending 31 December):

2015 2016 2017 2018 2019 2020 2021 2022
Net profit (₺m) 111 −136 501 502 1,334 −1,965 −1,972 7,100
Number of employees 4,967 5,257 5,337 5,621 6,164 6,130 5,837 6,765
Number of passengers (m) 22.3 24.1 27.8 29.9 29.8 14.7 20.1 26.9
Passenger load factor (%) 79.0 78.6 84.6 85.5 86.0 79.7 77.3 83.6
Fleet size 67 82 76 82 84 93 90 96
References [14] [15] [16] [17] [18] [19] [20] [21]

Cabin

Pegasus Airlines operates a one-class interior configuration on all of its aircraft. A "Flying Cafe" is available to all passengers whereby food and beverages are provided for an additional charge. Pegasus is also considering installing in-flight entertainment and charging for headphones (currently, only overhead screens are available on selected 737-800s and they only display a computer-generated map showing the flight's progress).[4] All new Boeing 737-800s arrived after November 2011 have Boeing Sky Interior.

Training and maintenance

Unlike most low-cost carriers, Pegasus runs its own flight crew training centre and maintenance organisation, Pegasus Technic. Both centres are fully licensed and are used to train new staff members both on the ground and in the air.[4][22]

Sponsorships

Pegasus Airlines was one of the official sponsors of Nef Stadium, the stadium of Turkish Football Club Galatasaray S.K.[23] from 2011 to 2013.

Destinations
Main article: List of Pegasus Airlines destinations
Countries in which Pegasus operates (October 2023)[24][25]

Codeshare agreements

Pegasus Airlines has codeshare agreements with the following airlines:[26]

Interline agreements

Pegasus Airlines has interline agreement with the following airline:

Fleet
A Pegasus Airlines Airbus A320neo
A Pegasus Airlines Boeing 737-800

Current fleet

As of November 2022, the Pegasus Airlines fleet consists of the following:

Pegasus Airlines fleet
Aircraft In service Orders Passengers Notes
Airbus A320-200 7[30] — 180 All aircraft to be phased out.
Airbus A320neo 46[30] — 186
Airbus A321neo 25[30] 47[30] 239
Boeing 737-800 17[31] — 189 All aircraft to be phased out by 2025.[32]
Total 95 47

Historic fleet

Incidents and accidents

Data breach

A vulnerability in software developed by Turkish airline Pegasus has left 6.5 terabytes of data exposed online. The data breach, which comprises 23 million files including personal information of flight crew, is thought to have originated from a misconfigured ‘bucket’ on Amazon's cloud service AWS.[42]

See also

References
  1. "Annual Report 2022". Pegasus investor relations. Retrieved 8 March 2023.
  2. "Annual Report 2019". Pegasus investor relations. Retrieved 10 June 2020.
  3. "Headquarters." Pegasus Airlines. Retrieved 24 November 2012.
  4. "Winged Horses over Istanbul" – Airliner World, December 2008
  5. Annual Report 2013 url=http://www.pegasusinvestorrelations.com/medium/image/2013-annual-report_151/view.aspx |accessdate=11 June 2020
  6. Cortal Unternehmensprofil auf cortalconsors.de.
  7. Air Berlin und Pegasus mit neuem Produkt Archived 21 September 2011 at the Wayback Machine auf airliners.de 25 August 2011.
  8. "Türkische ESAS-Holding plant neuen Charteranbieter" (in German). aero.de. 26 August 2011.
  9. "Air Berlin Turkey Fleet Details and History". www.planespotters.net. Archived from the original on 30 October 2011.
  10. Pegasus selects up to 100 A320neo Family Aircraft Archived 30 December 2012 at the Wayback Machine Airbus. 18 December 2010. Retrieved 28 January 2014.
  11. Pegasus. "Pegasus'ta Ucuz Uçak Bileti Demek Özgürlük Demek". www.flypgs.com. Archived from the original on 12 March 2014. Retrieved 14 January 2018.
  12. "Pegasus Hava Yolları işlem görmeye başladı". Hürriyet (in Turkish). 26 April 2013. Retrieved 26 April 2013.
  13. ch-aviation.com - Turkey's Pegasus Airlines puts entire fleet up for lease 6 October 2016
  14. "Pegasus Annual Report 2015". Pegasus. Retrieved 14 October 2023.
  15. "Pegasus Annual Report 2016". Pegasus. Retrieved 14 October 2023.
  16. "Pegasus Annual Report 2016". Pegasus. Retrieved 14 October 2023.
  17. "Pegasus Annual Report 2018". Pegasus. Retrieved 14 October 2023.
  18. "Pegasus Annual Report 2019". Pegasus. Retrieved 14 October 2023.
  19. "Pegasus Annual Report 2020". Pegasus. Retrieved 14 October 2023.
  20. "Pegasus Annual Report 2021". Pegasus. Retrieved 14 October 2023.
  21. "Pegasus Annual Report 2022". Pegasus. Retrieved 14 October 2023.
  22. Pegasus flight academy Pegasus.
  23. Levent Tüzemen. (24 May 2010). Stat Galatasaray'ı uçuracak Sabah. Retrieved 28 January 2014.
  24. "Route map Pegasus". Flightconnections. 25 May 2023.
  25. "Pegasus Online Booking". Pegasus. 25 May 2023.
  26. "Profile on Pegasus Airlines". CAPA. Centre for Aviation. Archived from the original on 1 November 2016. Retrieved 1 November 2016.
  27. "Founded with Aer Lingus: The History of Pegasus Airlines". November 2021.
  28. "News for Airlines, Airports and the Aviation Industry | CAPA".
  29. https://www.emirates.com/tr/english/travel-partners/
  30. Airbus Orders and Deliveries (XLS), monthly updated, accessed via "Orders & deliveries". Airbus. Airbus SAS. 31 October 2022. Retrieved 6 November 2022.
  31. "Pegasus Fleet Details and History". Planespotters. Planespotters. 6 November 2022. Retrieved 6 November 2022.
  32. "An Airline In Transition: The Pegasus Airlines Fleet In 2022". Simpleflying. Simpleflying. 27 January 2022. Retrieved 6 November 2022.
  33. "Incident: Izmir Airlines A319 at Frankfurt on Mar 10th 2010, blew nose gear tyres on landing". Avherald.com. Retrieved 9 February 2014.
  34. "Hijack attempter arrested by court". Dha.com.tr. Archived from the original on 23 February 2014. Retrieved 19 May 2016.
  35. Gul Tuysuz; Michael Martinez (7 February 2014). "Official: Plane lands in Turkey after bomb threat, passenger wants to land in Sochi".
  36. Ibekwe, David (19 January 2018). "It took 2 cranes to lift the 41-tonne plane that skidded off an icy runway in Turkey". United Kingdom: Business Insider UK. Retrieved 28 January 2018.
  37. Hradecky, Simon (13 January 2018). "Accident: Pegasus B738 at Trabzon on Jan 13th 2018, runway excursion". Retrieved 14 January 2018.
  38. Hradecky, Simon. "Incident: Pegasus B738 at Istanbul on Jan 7th 2020, runway excursion on landing". Aviation Herald. Retrieved 7 January 2020.
  39. "Plane splits in three after skidding off Istanbul runway". Sky News.
  40. "Plane skids off runway and splits in Turkey". BBC News. 5 February 2020. Retrieved 5 February 2020.
  41. Ranter, Harro. "Incident Airbus A320-251N TC-NBH, 26 Jan 2021". aviation-safety.net. Retrieved 17 August 2022.
  42. "Pegasus Airline breach sees 6.5TB of data left in unsecured AWS bucket". June 2022.
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