The global aviation sector faced an unprecedented crisis during the pandemic. As airlines employed various strategies to overcome financial difficulties, Mehmet Nane, Chairman of the Board of Pegasus Airlines, shared how Pegasus stayed afloat during this challenging period. Nane stated, “We survived by selling 13 of our aircraft; otherwise, we would have needed to take out a $350 million loan.”
Speaking at the Aviation Connect Conference, Nane discussed the challenges faced by the industry during the pandemic and Pegasus’ crisis strategies. He noted that Pegasus entered the pandemic with a strong financial structure due to a sale made in early 2020. “In good times, everyone is by your side; in bad times, you’re alone. We entered the crisis with cash in hand and emerged from it the same way,” he said.
Post-Crisis Shift to International Routes
Highlighting significant changes in the distribution of sales before and after the pandemic, Nane stated, “In 2018, 60% of our sales were domestic and 40% international. As of 2024, these numbers have reversed: 85% international and 15% domestic. Moreover, 70% of our international sales are generated from abroad.”
Of the 70 aircraft in Pegasus’ fleet, 70 operate out of Istanbul Sabiha Gökçen Airport, with Antalya emerging as a second major hub with 17 aircraft. Pegasus also uses other airports such as Ankara Esenboğa, Adana, and Ercan.
Operations in 53 Countries, Managed by a Four-Person Team
Pegasus currently operates flights to 53 countries. Emphasizing the complexity of managing such an extensive operation, Mehmet Nane stated, “We have only four personnel in our headquarters managing flights to 53 countries. We coordinate our international operations through ground handling companies, which provides a cost advantage and enhances operational efficiency for Pegasus.”
Airbus A321XLR Model Not Part of Pegasus’ Plans
Nane was asked whether Pegasus considered acquiring Airbus’ A321XLR model, designed for long-haul flights. Considering Pegasus’ network and fleet, Nane replied, “This model offers about two additional hours of flight time. However, the longest routes we fly from Sabiha Gökçen are to Edinburgh, Almaty, and St. Petersburg. An additional two hours does not open up many new destinations for us, so we are not considering the A321XLR model.”
As of 2023, Pegasus has added 16 new aircraft to its fleet, continuing to expand its operational capacity.(tolgaozbek.com)
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