Pegasus Airlines posts US$36.1m loss for 2016
Pegasus Airlines dropped into the red in 2016, recording a net loss of TL136.2m ($36.1m), sharply reversed from a profit of TL111.9m in 2015. Revenue for the year rose 6% year-over-year to TL3.7b. The loss had been expected, but in Sept 2016, CE Mehmet Nane said he anticipated the airline would bounce back in 2017. Although the situation was already improving by that point, he said the recovery would not be sufficient to offset a poor first half of the year. Turkey’s airlines have been badly hit by a combination of external factors, including a series of terrorist incidents that have scared away western European tourists. Passengers carried in 2016 increased 8.1% YOY to 24.1m, up from 22.3m in 2015. The increase was largely attributable to a 10.7% rise in domestic passengers on Pegasus’ extensive internal route network. <br/>
https://portal.staralliance.com/cms/news/hot-topics/2017-03-10/unaligned/pegasus-airlines-posts-us-36-1m-loss-for-2016
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Pegasus Airlines posts US$36.1m loss for 2016
Pegasus Airlines dropped into the red in 2016, recording a net loss of TL136.2m ($36.1m), sharply reversed from a profit of TL111.9m in 2015. Revenue for the year rose 6% year-over-year to TL3.7b. The loss had been expected, but in Sept 2016, CE Mehmet Nane said he anticipated the airline would bounce back in 2017. Although the situation was already improving by that point, he said the recovery would not be sufficient to offset a poor first half of the year. Turkey’s airlines have been badly hit by a combination of external factors, including a series of terrorist incidents that have scared away western European tourists. Passengers carried in 2016 increased 8.1% YOY to 24.1m, up from 22.3m in 2015. The increase was largely attributable to a 10.7% rise in domestic passengers on Pegasus’ extensive internal route network. <br/>
