With its impressive growth performance, Pegasus Airlines is making a name for itself in the global aviation industry. CEO Güliz Öztürk emphasizes that through effective cost management and digitalization strategies, Pegasus has become the world’s lowest-cost airline. “We’ve established an innovation center in Silicon Valley. Our goal is to be among the top three airlines in the world in terms of technology,” she says.
€3 Billion Revenue Target, 17% Growth
Having closed 2023 with €2.6 billion in revenue, Pegasus aims to exceed €3 billion by the end of 2024. The airline carried 37.48 million passengers last year, achieving 17% growth well above the industry average.
The Industry’s Only Female CEO: Güliz Öztürk
Leading Pegasus, Turkey’s second-largest airline, Güliz Öztürk holds the distinction of being the only female CEO in the sector. “Since taking office, we’ve experienced two wars, an earthquake, and high inflation. Despite all these crises, we’ve surpassed our goals,” she says.
Silicon Valley Initiative in Tech Investments
With the launch of an innovation center in Silicon Valley at the end of 2023, Pegasus has begun investing in new technologies, including AI, payment systems, forecasting, and voice cloning. Öztürk notes, “Our first output was a multilingual announcement system enabled by captain voice cloning. This technology directly contributes to customer satisfaction.”
Among the World’s Top 3 in Operational Profitability
Pegasus achieved an EBITDA margin of 31.4% in 2023, ranking it among the global leaders in operational profitability. The target for 2024 is to maintain this ratio within the 28–30% range, reinforcing its position in the global rankings. Notably, 30% of the airline’s revenue comes from ancillary services, and 80% of its earnings originate from international markets.
A Young Fleet of 127 Aircraft, Targeting 160 by 2029
Pegasus plans to add 9 new aircraft to its fleet in 2024, bringing the total to 127. The company aims to grow its fleet to 150–160 aircraft by 2029, keeping it young and eco-friendly through large-scale orders from Airbus and Boeing.
Concrete Steps Toward Sustainability
Thanks to its new-generation aircraft, Pegasus achieves 18% lower fuel consumption, contributing to the 2050 net-zero emissions goal. CEO Öztürk emphasizes that sustainable aviation fuels will play a critical role in reaching this target.
BolBol Loyalty Program Reaches 13 Million Members
Öztürk announced that the BolBol loyalty program now has 13 million members, with one in every four passengers being a loyal customer. Digital sales have reached 60%, and mobile app usage continues to rise rapidly.
2025 Code Name: Efficiency
CEO Güliz Öztürk stated that Pegasus views every year as a “year of efficiency,” and that the focus for 2025 will be the same. She highlighted that she monitors daily occupancy rates, operational profit/loss, and on-time departure data: “This allows us to make quick and agile decisions,” she said. (Source: Capital)
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