Fleet Renewal, Rising Revenues: Strong Signals from Pegasus

9 May 2025, 11:57 published

20% Revenue Growth in Q1 2025
International Passenger Numbers Up 17% – Pegasus on the Rise
Pegasus Closes Q1 with €622 Million Revenue
EBITDA Up 10%, Net Loss Narrows
Record in Ancillary Revenue: €29.1 Per Guest
Pegasus Fleet Reaches 119 Aircraft, Targeting 127 by Year-End
Flight Network Expands to 151 Destinations in 54 Countries
Pegasus Aims for Highest EBITDA Margin Globally in 2025

Sales revenue increased by 20%, international passenger growth at 17%

AeroHaber.com, May 2025 – Pegasus Airlines, one of Turkey’s leading low-cost carriers, has announced its financial and operational results for the first quarter of 2025 (Q1 2025). Despite challenging calendar effects and global economic headwinds, the company achieved strong growth figures.

Robust growth in revenue and passenger numbers

Pegasus’ total sales revenue rose by 20% year-on-year in Q1 2025, reaching €622 million. Total passenger numbers grew by 12% to 9 million, while international passengers increased by 17% to 5.7 million. The airline expanded its international Available Seat Kilometres (ASK) by 16%.

Notable improvement in profitability

EBITDA – a key indicator of operational profitability – increased by 10% to €42 million, with an EBITDA margin of 6.8%. The net loss, which stood at €-103 million in the same period last year, narrowed significantly to €-62 million this quarter, signalling a strong recovery.

Ancillary revenue performance hits record high

Ancillary revenue per guest rose by 18% to €29.1. Overall, ancillary revenues grew by 33%, making up 34% of total revenues.

Efficient fleet structure and expanding flight network

As of March 2025, Pegasus operates a fleet of 119 aircraft. The new-generation A320neo and A321neo models account for 87% of the total fleet, offering advantages in fuel efficiency and lower carbon emissions. The airline aims to grow its fleet to 127 aircraft by the end of 2025.

During Q1, international flight destinations were expanded from Istanbul Sabiha Gökçen, Ankara, Antalya, Gaziantep, Bodrum, Trabzon, Kayseri, Samsun, and Çukurova airports. Pegasus’ network now spans 151 destinations in 54 countries.

Positive outlook for 2025

Pegasus maintains its expectations of 12–14% growth in total ASK and “mid-single-digit” increases in both RASK and CASK for 2025. Based on these projections, the airline aims to rank among the global leaders in EBITDA margin for the year.