Turkish tourism revival powers Pegasus to profits
Pegasus Airlines’ predicted rebound from 2016’s losses materialised in 2017, with the carrier recording a TL501m (US$131.5m) net profit, compared to a loss of TL136.2m in the previous year. It achieved the result on revenues that increased 44% to TL5.3b. Pegasus, like other Turkish carriers, was hit by a series of geopolitical events in 2016, including a freeze in its inbound Russian tourism market following the shooting down of a Russian military aircraft by Turkish forces. Tourists were also scared off by a series of terrorist attacks, including one on Istanbul Ataturk Airport in June 2016, and an attempted military coup the same year. The tourists started to return from the important Russian market in 2017. Partly as a result of this, Pegasus added 4 new Russian destinations to its route map, taking the total to 7. <br/>
https://portal.staralliance.com/cms/news/hot-topics/2018-03-12/unaligned/turkish-tourism-revival-powers-pegasus-to-profits
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Turkish tourism revival powers Pegasus to profits
Pegasus Airlines’ predicted rebound from 2016’s losses materialised in 2017, with the carrier recording a TL501m (US$131.5m) net profit, compared to a loss of TL136.2m in the previous year. It achieved the result on revenues that increased 44% to TL5.3b. Pegasus, like other Turkish carriers, was hit by a series of geopolitical events in 2016, including a freeze in its inbound Russian tourism market following the shooting down of a Russian military aircraft by Turkish forces. Tourists were also scared off by a series of terrorist attacks, including one on Istanbul Ataturk Airport in June 2016, and an attempted military coup the same year. The tourists started to return from the important Russian market in 2017. Partly as a result of this, Pegasus added 4 new Russian destinations to its route map, taking the total to 7. <br/>
