Pegasus Airlines (bist: PGSUS), sometimes stylized as Flypgs, is a Turkish low-cost airline headquartered in the Kurtköy area of Pendik, Turkey,<r[4] with bases at several Turkish airports.
History
Foundation and early years
On 1 December 1989, two businesses, Net and Silkar, partnered with Aer Lingus to create an inclusive tour charter airline called Pegasus Airlines; 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.<r[5] 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.<r[5]
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.<r[5]
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.<r[5]
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.<r[5]
In 2007, Pegasus had reached a domestic market share of 15%, which grew to 27% in 2013.<r[6] In 2019, it carried a total of 29.87 million passengers.
Development since 2010
In November 2011, Air Berlin and Pegasus Airlines launched Air Berlin Turkey, which was aimed at the charter market between Germany and Turkey.<r[7]<r[8]<r[9] The new airline, however, was absorbed into Pegasus Airlines on 31 March 2013.
In 2012, Pegasus Airlines, the second-largest airline in Turkey, signed for up to 100 A320neo family aircraft, of which 75, 57 A320neos and 18 A321neos, 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.<r[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.<r
Corporate affairs
Business trends
The key trends for Pegasus Airlines are (as of the financial year ending 31 December):<r[24]
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).<r[5] All new Boeing 737-800s which 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.
Destinations
As of July 2024, Pegasus operated flights to 148 destinations in 53 countries across Europe, Asia and North Africa.<r[49]
Fleet
Incidents and accidents
- On 10 March 2010, Pegasus Airlines Flight 361, an Airbus A319 operated by IZair on a ferry flight, made an emergency landing at Frankfurt Airport, Germany after a malfunction in the nose gear. The flight landed safely but blew both front nose gear tires. The airport closed runway 07R/25L for 3 hours to allow recovery.<re[63] The nose gear suffered the same problem as JetBlue Flight 292.
- On 7 February 2014, Pegasus Airlines Flight 751, a Boeing 737, was the victim of an attempted hijacking by Ukrainian passenger Artem Kozlov<re[64] who claimed he had a bomb on board. The passenger demanded to be flown to Sochi, the host city of the 2014 Winter Olympics, where the Opening Ceremony was taking place. The plane landed safely in Istanbul.<re[65]
- On 13 January 2018, Pegasus Airlines Flight 8622
See also
- Air Manas
- AJet
External links
References
- Annual Report 2024 Pegasus investor relations^
- Annual Report 2023 Pegasus investor relations, retrieved 10 June 2020^
- Pegasus Airlines on ch-aviation ch-aviation, retrieved 2023-11-09