Turkey’s leading low-cost carrier Pegasus Airlines increased traffic volume by 22.6% for the first six months of 2013 compared to the same period last year. This year the company carried a total of 7.55 million guests on both its domestic and international routes, compared to last year’s 6.16 million, and grew 1.3 times faster than the domestic passenger market and 1.8 times faster than the international market.
During the first half of 2013 Pegasus increased its operational EBITDAR from 57.0 million TL to 200.1 million TL while increasing the EBITDAR margin by 12.6 bps to 20.4%.
Pegasus Airlines ended the first six months of 2013 with a net profit of 44.1 million TL, an improvement of 114.3 million TL when compared to the same period in 2012, and posted a net profit margin of 4.5%.
Improvement on Load Factors, Efficiency and CASK
During the first six months of 2013, Pegasus offered 15 new domestic and international routes and increased the frequency of flights on its existing routes. Load factor increased from 77.0% to 79.3%. Passengers per cycle increased from 148 to 153 on domestic flights and from 134 to 139 on international flights.
A combination of sales campaigns and effective income management during the first half of 2013, enabled Pegasus to decrease its cost per available seat kilometre (CASK) from 10.48 Kurus (4.49 € cent) to 9.88 Kurus (4.15 € cent).
During this period Pegasus’ ancillary revenue increased by 15%, to 19TL (€7.99) per pax from 16.5TL (€7.07).
Pegasus continued to utilise its fleet more effectively and efficiently in the first half of 2013, with aircraft utilisation increasing from 11.1 to 12.1 block hours.