Pegasus Airlines unveils ambitious 2023 plans and focus on sustainability
Güliz Öztürk, CEO of Pegasus Airlines
Pegasus Airlines showcased its latest developments and unveiled its plans for 2023 and beyond during a press conference held on June 6. The event took place as part of the 79th IATA General Assembly and World Air Transport Summit, which was hosted by Pegasus Airlines.
Güliz Öztürk, the CEO of Pegasus Airlines, highlighted the airline’s outstanding performance and future objectives, stating in a June 7 press release, “We started 2022 operationally and financially well-prepared and became the airline with the highest operational profitability in the world with our performance. In the first quarter of 2023, we maintained our strong performance despite the hardships we experienced in Türkiye. This successful performance also led to an increase in our credit rating.”
Öztürk highlighted the significant success of Pegasus Airlines in 2022, citing a 34 percent increase in the total number of guests, reaching 26.9 million. The number of guests on international routes saw an impressive 96 percent increase compared to the previous year, outperforming the overall market. The company’s revenue soared by 139 percent to 2.45 billion euros, with a 41 percent increase compared to 2019, the last normal year. Pegasus Airlines’ total available seat kilometres (ASK) capacity increased by eight percent, and its international capacity expanded by 23 percent. The airline achieved a remarkable EBITDA margin of 34.1 percent and recorded a net profit of 431 million euros for the year.
Despite the challenging conditions at the beginning of 2023, including global macroeconomic concerns and a major earthquake disaster in Türkiye, Pegasus Airlines showcased positive performance in the first four months of the year. The airline saw a 32 percent increase in capacity and a 31 percent rise in the number of guests compared to the previous year. International passenger numbers experienced an impressive growth of 43 percent, setting a promising momentum for the peak summer season. Pegasus Airlines aims to further enhance its operational and financial performance results throughout 2023.
As part of its plans to increase total capacity by approximately 20 percent in 2023, Pegasus Airlines aims to surpass the milestone of operating 100 aircraft during the 100th year of the Turkish Republic. The airline intends to expand its fleet by receiving 10 A321neo aircraft in the remaining months of 2023, followed by 21 in 2024 and 11 in 2025. Pegasus Airlines will continue to prioritize digital transformation, sustainability, diversity, equality, and inclusion. It wholeheartedly supports the sustainability goals of the aviation industry, aiming to build on its success through initiatives such as fleet transformation with new-generation aircraft, expanding its flight network, investing in technology and its workforce, and implementing sustainable aviation initiatives.
Highlighting Pegasus Airlines’ commitment to environmental and social goals, Öztürk emphasized the airline’s determination to contribute to a sustainable future. The company set a target of achieving net-zero carbon emissions by 2050, supported by an emission intensity reduction target for 2030. Pegasus Airlines has been actively reducing carbon emissions through investments in a new generation fleet and using alternative energy sources, as well as implementing waste management and business process transformation. The airline pioneered a sustainability-linked aircraft-secured term loan model, which included emission intensity reduction and gender equality commitments for financing 10 Airbus A321neo aircraft added to its fleet last year. Pegasus Airlines continues to collaborate with stakeholders on sustainable aviation fuel (SAF) production while increasing its experience and impact in the use of SAF, aligning with its 2050 and 2030 environmental goals.
Öztürk highlighted the significance of their initiative called “Harmony,” which aims to create a more equal and pluralistic future by implementing projects that foster an inclusive culture, with a particular focus on gender equality. As of May 2023, Pegasus Airlines has achieved a milestone with 35 percent of its employees being women. In alignment with IATA’s “25 in 2025” targets, the airline aims to increase the representation of female pilots, engineers, technicians, and managers to at least 32 percent.
Öztürk also addressed the environmental impact of the 79th IATA General Assembly, emphasizing the need for tangible actions to demonstrate the industry’s commitment to achieving the net-zero target by 2050. Pegasus Airlines took a proactive approach by mitigating flight-related greenhouse gas emissions for all IATA AGM attendees and cargo flights with the use of sustainable aviation fuel (SAF). This initiative serves two crucial purposes. Firstly, it highlights the significance and impact of SAF in realizing aviation’s net-zero goal. Secondly, it sets an essential example for future industry activities by showcasing a strong commitment to the Net Zero objective.
