Turkish low-cost carrier (LCC) Pegasus is preparing for growth of its network and fleet over the next five years after enjoying a “robust” 2023.
Speaking at the Routes World 2023 conference in Istanbul, Güliz Öztürk, CEO of Pegasus, said: “In five years time I see Pegasus with the claim of being an international airline, a digital LCC which is a pioneering one globally, running around 170 aircraft, covering a wide network internationally, and investing in more cutting-edge technology so that airports may support Pegasus with its fleet growth and network growth.”
Pegasus fleet growth
Pegasus recently took delivery of its 100th aircraft, and serves almost 130 destinations across Europe, North Africa, the Middle East and Asia.
It has seen accelerated growth in the post pandemic environment, with 2022 proving to be a strong financial year for the airline.
“The financial health of Pegagsus in 2023 is robust,” she said. “We are looking for more routes in Europe and especially CIS countries.”
Revenge travel
Commenting on so-called revenge travel which saw pent-up demand for travel post-Covid drive strong growth in ticket sales, she said: “The pricing environment of revenge travel has come to an end. But the demand is still strong and load factors are still strong.
“We would like to have more frequencies into Europe so that we have that inbound tourist traffic into Turkiye. We want to grow in eastern europe. We are also looking for further destinations to the east.”
Asked about the possibility that Pegasus could establish a new AOC outside of Turkey to drive further growth, Öztürk said: “We have considered it but not necessarily in the Middle East, it could be elsewhere. We have run a successful LCC model in Turkiye, our growth can be accelerated by looking at those opportunities.”
Pegasus has 74 Airbus A321s due to be delivered by 2029. “If you want to grow, you have to grow your fleet,” she added. “And these fleet orders should come five to six years ahead. The next step is looking ahead past 2029.”
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