Turkey’s low cost carrier Pegasus announced its financial results for 2014. According to the figures, Pegasus’ sales revenue in 2014 rose by 29 per cent to 3.1 billion TL while its net profit rose by 62 per cent to 143.3 million TL as Pegasus continued growing in 2014. In 2014 Pegasus carried 19.7 million guests, registering annual growth of 17.3 per cent.
Pegasus' operational EBITDAR reached 601 million TL in 2014, translating to a year on year growth of 13 per cent, while its EBITDAR margin increased also year on year by 19.5 per cent.
Pegasus added 14 new routes to its fast growing network in 2014 with the addition of Bahrain, Budapest, Frankfurt, Geneva, Hamburg, Hurghada, Kuwait, Lyon, Madrid, Milan (Malpensa), Mineralnye Vody, Nice, Prague and Sharm el-Sheikh; thus Pegasus grew 1.4 times faster than the domestic average, increasing its domestic market share from 26.9 to 28 per cent; whilst its international market share rose from 9 to 9.4 per cent, representing 1.5 times faster growth than the international market average. On domestic flights 28 out of every 100 passengers flew with Pegasus.
Expanding its network to currently serve 88 destinations in 36 countries, Pegasus recorded 17.0 per cent year on year growth in 2014 for guests travelling on its domestic routes and 17.8 per cent growth in the number of guests on international routes. In 2014, Pegasus carried an average of 148 guests per flight and, by continuing to make effective and efficient use of its fleet, Pegasus' average daily aircraft utilisation was 12.6 block hours.
Pegasus achieved an average load factor of 80 per cent for 2014 on domestic and international routes combined, whilst its fleet of 55 aircraft recorded an on-time performance of 84 per cent for 2014.
Sertaç Haybat, Pegasus Airlines General Manager, said, "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. Alongside these we continue to introduce new and varied ancillary products and services, inspiring our guests to personalise their travels and diversify their travel experiences without unnecessary cost.”
Haybat added, “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. 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. As 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.”