Turkey’s Pegasus Airlines widens net loss in H1
Pegasus Airlines recorded a sharp deterioration in its half-yearly financial figures, with the airline making a net loss of TL202.9m (US$70m) widened from a deficit of TL42.2m for the same period last year. Half-year revenue was up 5% at TL1.49m, compared to TL1.42m last time. The airline said it had experienced “challenging conditions” in the tourism sector, which makes up a substantial proportion of its revenue. A series of terrorist bombings in Turkey, together with an effective ban by Russia on its citizens taking holidays there following the downing of a Russian strike aircraft by Turkish interceptors late in 2015, has seen inbound tourism figures plummet. The Russian action has recently been rescinded following a rapprochement between the two nations. <br/>
https://portal.staralliance.com/cms/news/hot-topics/2016-08-22/unaligned/turkey2019s-pegasus-airlines-widens-net-loss-in-h1
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Turkey’s Pegasus Airlines widens net loss in H1
Pegasus Airlines recorded a sharp deterioration in its half-yearly financial figures, with the airline making a net loss of TL202.9m (US$70m) widened from a deficit of TL42.2m for the same period last year. Half-year revenue was up 5% at TL1.49m, compared to TL1.42m last time. The airline said it had experienced “challenging conditions” in the tourism sector, which makes up a substantial proportion of its revenue. A series of terrorist bombings in Turkey, together with an effective ban by Russia on its citizens taking holidays there following the downing of a Russian strike aircraft by Turkish interceptors late in 2015, has seen inbound tourism figures plummet. The Russian action has recently been rescinded following a rapprochement between the two nations. <br/>
