Pegasus Airlines recorded a 15% increase in Available Seat Kilometres (ASK) and a 17% rise in sales revenue in 2024 compared to the previous year.
Traffic Performance
Total ASK grew by 15% in Q4 2024 and 15% over the full year, with international ASK increasing by 16%, driving significant growth. The load factor reached 87.7%, rising by 2.9 percentage points. The international load factor stood at 85.6%. The total number of passengers rose by 17% to 37.5 million, with international passengers increasing by 17% to 23.4 million. The number of passengers per international landing climbed to 178, surpassing 2019 levels.
Financial Performance
Revenue: €3.1 billion (+17%) EBITDA: €888 million (+6%) Net profit for the period: €361 million Ancillary revenue per passenger: €28.3 (+11%, record level) EBITDA margin: 28.4%
Fleet Development and Orders
The fleet size reached 118 aircraft by the end of 2024. An order was placed with Boeing for 200 Boeing 737-10 aircraft (100 firm, 100 optional). The fleet size is expected to reach 127 aircraft by the end of 2025. The share of neo aircraft in the fleet increased to 87%, improving fuel efficiency.
2025 Outlook
Total ASK is projected to grow by 12-14%. A mid-single-digit increase in RASK is anticipated. A high-single-digit increase in ex-fuel CASK is expected. EBITDA margin is forecasted to remain flat or show slight growth.
Balance Sheet and Cash Position
Net debt: €2.75 billion Cash and equivalents: €1.687 billion Net cash position: €827 million
Hedging and Risk Management Policies
49% of 2025 jet fuel consumption is hedged through contracts. Active foreign exchange management is in place to mitigate currency fluctuations.
Pegasus Airlines aims to maintain its leadership position among global low-cost carriers by continuing its growth strategy in 2025.
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