Pegasus Airlines posts turnover of €2.45B claiming ‘fastest pandemic recovery’

Pegasus Airlines announces annual profits for 2022
Andrei Armiagov /

Low-cost carrier Pegasus Airlines has reported a €2.45B turnover and 33.7% growth in passenger numbers in 2022.

The Turkey based airline announced its annual financial results on March 8, 2023, boasting turnover growth of 139%.

According to Pegasus the airline flew 26.9 million passengers, comprising 10.9 million on its domestic routes and 16 million on its international routes in 2022.

The number of guests on its international routes grew by 96.4% compared to the previous year and the total number of global air passengers in 2022 is estimated to have surpassed 70% of the 2019 figure.

Güliz Öztürk, CEO of Pegasus Airlines, praised the airline’s performance despite the difficulties the aviation industry has faced due to the COVID pandemic.

“Given the challenging operating conditions resulting from the factors including global surge in inflation and heightened geopolitical tensions, the fact that demand is recovering so strongly is a positive indicator for the aviation industry,” Öztürk explained. “The recovery has not yet spread equally across all continents and countries worldwide; in other words, we have not yet fully recovered from the damage caused by the pandemic.

He added: “Yet the industry’s recovery is faster than the initial outlook predicted. The recovery in passenger numbers in Turkey has been faster and more pronounced compared to the rest of the world, with total passenger numbers in Turkey in 2022 reaching 90% of the 2019 figures.”

In 2023, Pegasus Airlines aims to increase its total capacity by approximately 20%, supported by the new aircraft deliveries to its fleet.

Based on Pegasus Airlines’ current strategy, the airline’s fleet size will exceed the 100 aircraft threshold and beyond in 2023.

Commenting on the 2022 financial results Öztürk also paid tribute to all those that had suffered due to the earthquake in February 2023.

“The losses and our pain are immense. May those who lost their lives in the earthquake rest in peace, and we express our deepest sympathies to all those who have lost loved ones and wish a fast recovery to those who have been injured,” Öztürk said.

Pegasus has evacuated 152,950 people with 785 evacuation flights from the earthquake zones and carried 111 tonnes of aid material.

The carrier has also taken 126,926 people, including rescue workers, to the region.

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