Turkey’s appeal as a tourist and second home destination has been reinforced by results from the country’s leading low-cost carrier Pegasus Airlines, which reported a 22.6 per cent year-on-year increase in traffic volume for the first six months of 2013.
Pegasus carried a total of 7.55 million passengers on both its domestic and international routes from January to June this year, compared to last year's 6.16 million. The airline ended the first six months of 2013 with a net profit of 44.1 million lira, an improvement of 114.3 million lira when compared to the same period in 2012, and posted a net profit margin of 4.5 per cent.
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. Passengers per cycle increased from 148 to 153 on domestic flights and from 134 to 139 on international flights.
Pegasus flies a scheduled service to 43 international destinations and 29 destinations within Turkey, taking its guests to 72 destinations in 30 countries. Due to its continuous expansion, Pegasus was named “the fastest growing airline” of Europe's 25 largest airlines in terms of seat capacity for both 2011 and 2012 by the Official Airline Guide (OAG). In 2012 Pegasus made the single largest-ever aircraft order in Turkish civil aviation history of approximately US$12 billion (list price) for 100 new Airbus aircraft, of which 25 are optional. On 26 April 2013, Pegasus Airlines listed 34.5 per cent of its stock on the Istanbul Stock Exchange with a public offering and began trading with the code 'PGSUS'.