Pegasus Airlines has disclosed its financial results for the year 2013. Continuing its double-digit growth in 2013, Pegasus increased sales revenue by 25 per cent YoY to 2.4 billion Turkish Lira and its gross profit by 41 per cent YoY to 450,515,424 Turkish Lira.
In 2013 Pegasus launched 13(*) new destinations; and flew 16.8 million guests
Continuing its dynamic and prolific growth in 2013, Pegasus’ operating profit increased by 28 per cent to reach 258 million Turkish Lira. Having carried 16.8 million guests in 2013, Pegasus’ Operational EBITDAR reached 533.5 million Turkish Lira while its EBITDAR margin increased by 22.3 per cent.
Extending its flight network with 13 new destinations in 2013, Pegasus increased its domestic market share from 25.7 per cent to 26.9 per cent and its international market share from 8.1 percent to 9 percent. On domestic flights 27 out of every 100 passengers flew with Pegasus.
Pegasus’ blended load factor reached 80.2 per cent and average guest numbers per cycle reached 149.
Having launched 13(*) new destinations in 2013, comprising of 7 Turkish domestic and 6 international routes, Pegasus extended its flight network such that it reached 76 destinations in 30 countries by the end of 2013; translating to 23.3 per cent YoY growth in the number of guests travelling on its domestic Turkish routes and 24.8 per cent YoY growth in the number of international guests. By increasing the average number of its guests on a single flight to 149 in 2013; and by continuing to make effective and efficient use of its fleet, Pegasus has increased its average daily aircraft utilisation to 12.6 block hours.
Load factors reached an average of 80.2 per cent in 2013 across all domestic Turkish and international flights. Between 2005 and 2013, Pegasus flew 42.3 million guests, translating to 72 per cent of its total guests, to their destinations for under 100 Turkish Lira and 15.1 million guests, that is, 26 per cent of its total guests, for under 50 Turkish Lira. In 2013, an average of 90.24 per cent of Pegasus’ flights departed on-time, reflecting its uncompromising mission of providing punctual flights for its guests.
Haybat: “We continue to be a leader in the region as well as in Turkey through the business model we have established.”
Sertaç Haybat, Pegasus Airlines General Manager, announced: “We have continued our sustained growth in 2013, reflecting our position not just as the fastest growing airline in Turkey in recent years, but also in Europe. From 2007 to 2013 Pegasus achieved an average annual growth rate of 27 per cent for domestic flights against a sector average of 16 per cent. In 2013, 27 people out of every 100 in Turkey travelled to their domestic destinations with Pegasus; and in total 16.8 million guests on domestic and international destinations were able to experience the next-generation in travel with us. By providing our guests with the opportunity to design their flights in accordance with their preferences we also provided them with the opportunity of enriching their travel experiences. Meanwhile, our ever-expanding flight network has presented our guests with new destinations to discover and so we have continued to offer them the opportunity to travel at affordable prices.
We owe our low fares to our operational productivity and our young fleet. Pegasus is not only one of the most popular airlines in Turkey for its implementation of the low cost model; but also within Europe. Our website, flypgs.com, is now known as the address for affordable flights in both Europe and Turkey. In order to continue the growth we achieved in 2013 into 2014, we will continue to create new opportunities to ‘fly and go’ for our Pegasus guests with our new destinations and increasing flight frequencies.”