Pegasus Airlines closes the first ever sustainability-linked aircraft-secured term loan with Ex-Im support

Pegasus Airlines closes the first-ever sustainability-linked aircraft-secured term loan with Ex-Im support

Pegasus Airlines closed the first ever sustainability-linked aircraft-secured term loan (“SLL”), which was guaranteed by UK Export Finance for the financing of ten new Airbus A321neo aircraft.

Pegasus Airlines closed the first ever sustainability-linked aircraft-secured term loan (“SLL”), which was guaranteed by UK Export Finance for the financing of ten new Airbus A321neo aircraft. 

The transaction was led by Societe Generale, acting as global arranger, sustainability structurer, facility agent and security trustee. The highly innovative transaction is remarkable in several respects: it is the first-ever aircraft export credit facility incorporating sustainability-linked features, as well as the largest aircraft-secured sustainability-linked term loan executed in the market to date and the first one to be verified by a Second Party Opinion provided by an independent ESG ratings and analytics agency. 

The terms of the financing are indexed on Pegasus Airlines’ future achievements in respect of two ambitious sustainability-linked Key Performance Indicators (KPIs): carbon intensity of flights and gender diversity in management positions. 

Pegasus Airlines, which has pledged to reach net zero emissions by 2050, will reach its environmental targets through fleet optimization, operations efficiency, and sustainable aviation fuels usage. To reach its gender diversity objectives, the airline will leverage on and further strengthen long- standing commitments in promoting gender balance.

 

IATA Wings of Change Europe kicks off, hosted by Pegasus Airlines in Istanbul

The third edition of IATA Wings of Change Europe (WoCE), organised by The International Air Transport Association (IATA) and hosted by Pegasus Airlines, has kicked off in Istanbul.

Mehmet T. Nane & Willie Walsh Photo Pegasus Airlines

The third edition of IATA Wings of Change Europe (WoCE), organised by the International Air Transport Association (IATA) and hosted by Pegasus Airlines, has kicked off in Istanbul today, 8 November 2022, following previous editions in Madrid and Berlin. Attendees on the first day included Turkey’s Deputy Minister of Transport and Infrastructure, Dr. Ömer Fatih Sayan; Chair of the IATA Board of Governors and Pegasus Airlines Vice-Chairperson of the Board and Managing Director, Mehmet T. Nane; IATA Director General, Willie Walsh; and Pegasus Airlines CEO, Güliz Öztürk, along with government officials, industry representatives and aviation professionals from Turkey and many other countries.

 

On the second day, Deputy Minister of Culture and Tourism of the Republic of Turkey, Özgül Özcan Yavuz, will deliver the opening address of the conference, where significant topics such as the post-pandemic recovery, environmental and financial sustainability, accessibility, inclusivity, diversity, tourism and digitalisation are being addressed. Topics of discussion will include insights around the current state of the sector and what’s next for the air transport industry, as well as the tourism industry ecosystem.

 

Dr. Ömer Fatih Sayan  Photo Pegasus Airlines

Delivering a speech at the conference, Türkiye’s Deputy Minister of Transport and Infrastructure, Dr. Ömer Fatih Sayan, said: “As a country we have the geographical advantage of being within a four-hour flight distance to 67 countries with 1.6 billion people and 8 trillion dollars of trade volume. Combining this strong geographical advantage with our strong airlines, comprehensive maintenance centres, modern airports, promising aviation training centres, and well-trained personnel, Turkey is in a great position to become a world leader in aviation. New ideas and policies that are to be discussed here during this event will determine the roadmap of European aviation in the coming period. We believe that all challenges can be overcome first with regional and then with strong global cooperation.”

 

Delivering the opening address on the first day of the conference, Chair of the IATA Board of Governors and Pegasus Airlines Vice-Chairperson of the Board and Managing Director, Mehmet T. Nane, said: “The past few years have been the most difficult of the aviation industry to date. We have experienced and learned a lot. Now it is the time to recover and build back stronger than ever. We firmly believe in the power of working together to shape the future growth of a safe, secure and sustainable aviation industry that connects and enriches our world. We all have the power to achieve this and to make it happen, as long as we join forces and stand shoulder to shoulder. That is why a united aviation ecosystem is vital, because only then can we build on each other’s strengths and achieve far greater things than we can individually, from innovation and diversity to safety and sustainability.” He continued: “Stakeholders from across the aviation sector are united on the need for regulations which promote the coexistence of different business models, encouraging healthy competition and maximum consumer choice. Turkey is a good example of how to grow national connectivity and allow different kinds of carriers to succeed. And what is crucial is that policies for growth go hand in hand with sustainable solutions.”

 

Güliz Öztürk, CEO of Pegasus Airlines, who also spoke at the event said: "As Pegasus Airlines, we are delighted to host IATA Wings of Change Europe, one of the most important aviation conferences in the European region. At this important event, we come together with aviation professionals from all over the world to exchange ideas and discuss highly significant issues that will shape the future of our industry. I am pleased that we can emphasise the importance of an inclusive and diverse corporate culture within the global aviation industry and underline that companies should be prioritising these issues. I look forward to witnessing the positive outcomes that this gathering will bring”.

 

And IATA Director General, Willie Walsh, said: “Europe, just like the rest of the world, relies on air connectivity, which is vital for society, tourism, and trade. Business users of the European air transport network - large and small - have confirmed this in a recent IATA survey: 82% say that access to global supply chains is ‘existential’ for their business. And 84% ‘cannot imagine doing business’ without access to air transport networks,” said Willie Walsh, IATA’s Director General, and continued: “We should be focusing on incentivizing SAF production in the greatest quantities at the lowest cost, wherever that may be.”

Pegasus Airlines received an award in the "Risk Management and Resilience" category at the EuroFinance Treasury Excellence Awards 2022.

Pegasus Airlines received an award in the "Risk Management and Resilience" category at the annual EuroFinance Treasury Excellence Awards, organized by EuroFinance. The "Risk Management and Resilience” Award recognises astute risk management actions by treasury that protected staff and enabled their companies to survive.

Commenting on the award, Barbaros Kubatoğlu, Chief Financial Officer of Pegasus Airlines, said: "Aviation is one of the sectors most affected by the pandemic. At the height of the pandemic, there were months when we had to halt all our flights due to travel restrictions. During this challenging period, as we managed our treasury operations, our focus areas were the protection of our equity and the effective management of our cash flow in case the pandemic continued. We believe that we successfully navigated through this period by managing our treasury position on a day-to-day basis. We continually updated our hedging policy, especially by closely monitoring brent oil prices. In order to keep our cash position under control and meet our funding needs, we used loans, issued USD-denominated Eurobonds and TL-denominated bonds." And continued: "All of this was accomplished in one year and with our balance sheet results nearing 2019 year-end figures, we are now an airline that came out of the pandemic stronger. This significant award that we receive from EuroFinance is a great source of pride for us..."

Pegasus Airlines appoints Ahmet Bağdat as Director of Marketing and E-commerce

Pegasus Airlines appoints Ahmet Bağdat as Director of Marketing and E-commerce

Ahmet Bağdat, who’s been serving as Group Head of Digital Channel Management and Growth Marketing at Pegasus Airlines since 2017, has been appointed as Director of Marketing and E-commerce.

18 August 2022 Ahmet Bağdat, who’s been serving as Group Head of Digital Channel Management and Growth Marketing at Pegasus Airlines since 2017, has been appointed Director of Marketing and E-commerce. Mr Bağdat will be responsible for Pegasus Airlines' brand management, e-commerce and digital channel management, data analytics, ancillary product development and management, loyalty management, guest experience functions, and leading the development and execution of the marketing strategy.

Ahmet Bağdat graduated from Boğaziçi University, Industrial Engineering and received his MBA from UCLA (University of California - Los Angeles) Anderson School of Management in 2011. He started his career as an MT at Demirbank/HSBC Bank in 2000. He then held positions as Management Information Systems Specialist at Alarko Tourism Group, Marketing Specialist at Turkish Airlines and Assistant Manager, Business Solutions at HSBC Bank. In 2006, he moved to Turkcell, first as Product Marketing Manager, Value Added Services then as Head of Offer and Solution Development. Between 2015-2017, he worked as Mobile Voice and Data Marketing Manager at Türk Telekom. In 2017, Ahmet Bağdat joined Pegasus Airlines as Head of Product Marketing and Ancillary Services and has been Group Head of Digital Channel Management and Growth Marketing for the last one and a half years.

Güliz Öztürk, CEO of Pegasus Airlines, receives the "Inspirational Role Model" Award from IATA

Güliz Öztürk, CEO of Pegasus Airlines, was awarded the "Inspirational Role Model Award" at the IATA Diversity and Inclusion Awards 2022 organised by the International Air Transport Association (IATA). Güliz Öztürk, who carries out many activities on gender balance, both institutionally and individually, received this special award, which aims to recognise and celebrate the great work that is being done to ensure Diversity, Equity, and Inclusion. The Award was presented at the 78th IATA’s Annual General Meeting and World Air Transport Summit in Doha by IATA’s Director General Willie Walsh and Qatar Airways Group CEO His Excellency Akbar Al Baker.

 

Speaking about the "Inspirational Role Model Award", presented to women leaders who have a significant impact on the aviation agenda through their strong contribution to business delivery, as well as their ongoing support of the diversity and inclusion agenda, Güliz Öztürk, CEO of Pegasus Airlines, said: "It is a great honour to receive such a significant and special award. As Pegasus Airlines, we are a company that places great importance on diversity and inclusion. We have been at the centre of the struggle for gender equality in particular for many years and have been carrying out a lot of work in this field. We are proud of the fact that our female employees have made their mark in every field in our company from pilots to senior management." And she continued: "We will make every effort, institutionally and individually, to contribute to the equal participation of all individuals, regardless of gender, in all areas of social life and to enable women to express their full potential, and we will continue to work with all our strength with the aim of achieving a more equal future."

 

Pegasus' work on gender equality

 

Vice-Chairperson of the Board / Managing Director of Pegasus Airlines Mehmet T. Nane assumes his duties as Chair of the IATA Board of Governors

Mehmet T. Nane, Vice-Chairperson of the Board (Managing Director) of Pegasus Airlines, has assumed his duties as Chair of the International Air Transport Association (IATA) Board of Governors, succeeding Robin Hayes at the 78th General Assembly held in Doha. Mehmet T. Nane, the first Turkish Chairman of IATA, which represents 292 airlines from 120 countries comprising 83% of global air traffic, will serve until June 2023.

Commenting on the topic, Mehmet T. Nane said: “I’m honoured to take on this position at a time when the industry is emerging from our worst downturn, and to be the first Turkish Chair of IATA. A huge part of this honour is that it represents how far Turkish civil aviation has come.” Nane continued: “The aviation industry has been going through one of the toughest tests in its history over the last few years and is being directly affected by different political and economic factors as well as the COVID-19 pandemic. This means that our already demanding industry now has even more challenges. Despite all the challenges, every one of the stakeholders in our industry are working with maximum effort”.

"We all share great responsibilities for the sustainable growth of the aviation sector”

Commenting on the current state of the aviation industry, Mehmet T. Nane said: "As the aviation industry continues its post-pandemic recovery efforts, it is also taking solid and decisive steps in areas such as gender equality and sustainability. We all share great responsibilities for the sustainable growth of the aviation sector, which supports not only tourism but also many other sectors. As IATA, in addition to maintaining momentum toward re-opening the world to travel and commerce we have a very full agenda over the next 12 months including supporting CORSIA at the upcoming ICAO Assembly, refining the pathway to Net Zero Carbon Emissions by 2050, and broadening participation in the 25by2025 gender diversity initiative, an initiative for IATA member airlines to improve female representation in the industry by 25% or up to a minimum of 25% by 2025. Together with all our members, we will work hard to realise our main objectives and propel our industry forward."  Stating that the 78th IATA General Assembly has decided to hold the 79th IATA General Assembly and World Air Transport Summit in Istanbul, Türkiye, on 4-6 June 2023, Mehmet T. Nane said: “We will be delighted to welcome global aviation professionals in our beautiful country, hosted by Pegasus Airlines.”

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Pegasus Airlines Appoints Onur Dedeköylü as Chief Commercial Officer (CCO)

Onur Dedeköylü, who has been working as Senior Vice President for Marketing at Pegasus Airlines since 2010 and has made significant contributions to the company’s ancillary product management, digital transformation and to building the Pegasus brand, has been appointed Chief Commercial Officer. Onur Dedeköylü will manage the Commercial division, consisting of the sales, network planning, marketing, revenue management and pricing, guest experience and cargo departments. 

 

Onur Dedeköylü is a graduate of Industrial Engineering from Boğaziçi University and holds an MBA degree in marketing and finance from Georgia State University in Atlanta. He began his career at Gillette working in the fields of sales and marketing. After working at the global headquarters of Kimberly Clark’s health products division in Atlanta, USA, he continued his career in the UK. He worked in the fields of market research, product development and brand management at Hasbro’s European headquarters in the UK. He continued his career at the Coca-Cola Company, managing the Coca-Cola brand in Turkey. In 2010, Onur Dedeköylü joined Pegasus Airlines as Senior Vice President. In this role, he was responsible for brand management, ancillary product development and management, digital channels management, data analytics and loyalty management functions. Onur Dedeköylü started his role as Chief Commercial Officer on 13 May 2022.

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leadership changes at Pegasus Airlines

Top-level changes at the Turkish budget and holiday airline Pegasus have taken place which now sees Mehmet T. Nane, Chief Executive Officer being elected Vice-Chairperson of the Board (Managing Director).  The change was made following the company’s Ordinary Meeting of the General Assembly held yesterday. 

Güliz Öztürk, who has been serving as the company's CCO since 2010, will succeed Mehmet T. Nane as CEO. Mehmet T. Nane and Güliz Öztürk will officially begin their new roles from 1 May 2022.

Mehmet T. Nane said: “I am delighted to be passing the CEO baton, which I received in 2016, to Güliz Öztürk, who has made significant contributions to the growth and development of Pegasus for many years. I wholeheartedly believe that she will continue to wave the flag of Pegasus brightly in the skies. This appointment holds great value and significance also as Güliz Öztürk is to become the first woman CEO of an airline in the history of Turkish civil aviation…”  He continued: “The aviation sector has gone through a very challenging period both domestically and globally due to the pandemic. As part of the framework of my continued role as President of Turkish Private Aviation Enterprises Association (TÖSHİD), and my role as IATA Chair of the Board, which will commence in June, I will fight for the sustainable development of the civil aviation sector; whilst in my new role at Pegasus Airlines, I will continue to work tirelessly to reinforce the position of Turkish civil aviation as a rising star in the world, and to support the growth of our company as we forge solidly ahead.”

Güliz Öztürk said, “I am honoured to receive the baton from Mehmet T. Nane. As Pegasus Airlines, we have accomplished many firsts and pioneering projects under his leadership since 2016, and we have made our country proud many times in the international arena. Together with all my colleagues, we will work tirelessly to progress our company further and crown its achievements. Investing in two important areas will continue to be the architect of our success: technology and people. As Turkey's digital airline, we will continue to offer digital technologies and unique innovations that will enhance the travel experience, with our approach that focuses on guest experience. Without compromising the basic principles of our business model, we will continue to manage our operations and activities with a sustainable environment approach. One of the issues on which we will also be most focused will be gender equality. We will make every effort, institutionally and individually, to contribute to the equal participation of women and men in all areas of social life and to enable women to express their full potential. As a company, we have been committed to gender equality for many years, and we have been at the centre of the struggle. This change is also proof of the importance our company attaches to gender equality.”

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Pegasus restarting Turkey - UK routes.

Turkish holiday carrier Pegasus has relaunched its twice-daily operation between Istanbul Sabiha Gokcen and London Stansted following Turkey coming off the UK's red list of countries. The airline has also made its service between Istanbul and Manchester fly five times each week.

UK travel trade publication TTG, reported that the airline will also be launching flights between Stansted and Antalya during this winter period twice a week, commencing on 20th October. A day later Pegasus will begin a London Stansted-Izmir route scheduled to operate five times per week.  

Chief commercial officer Guliz Ozturk said: “In light of the new announcement putting Turkey back into the amber list, we’re seeing strong growth in our bookings to Turkey from England.   

In response to this growing demand and desire for autumn travel, we’re delighted also to be expanding our flight programme from Stansted and Manchester to Turkey.

We’re planning to further increase the number of our flights from England later in the autumn if demand continues to rise, and we’re very much looking forward to welcoming our guests back onboard as travel begins to reopen again."

The carrier has a fleet of over 90 aircraft, the majority being from the Airbus A320 family and 28 Boeing 737 aircraft that are being phased out.  With over 50 more aircraft on order the airline also plans to increase its destination list to over 118. 

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One new Airbus A321-200neo aircraft for Pegasus Airlines

One of the globes leading aircraft leasing firms, Air Lease Corporation has announced this week a long-term lease agreement for one new Airbus A321-200neo aircraft with Pegasus Airlines (Turkey).  Scheduled to deliver in Spring 2023, this aircraft will deliver to the airline from ALC’s order book with Airbus. 

Pegasus Airlines also confirmed to sell four young Boeing 737-800 aircraft to ALC as part of a sale-leaseback transaction.  The airline will lease these four 737 aircraft back from ALC.

“ALC is pleased to announce these lease placements with Pegasus Airlines today,” said Steven F. Udvar-Házy, Executive Chairman of Air Lease Corporation.  “This deal aligns with Pegasus Airlines’ fleet modernization and rationalization efforts to advance the airline’s environmental, financial and operational performance.” 

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Pegasus Airlines crash pilot arrested.

The pilot of the Pegasus Airlines aircraft that ran off the runway at Istanbul’s Sabiha Gokcen Airport earlier this month has been arrested by local authorities, the Turkish state media outlet Anadolu reports.

The Boeing 737 aircraft had been operating a flight between Izmir and Istanbul and skidded off the runway upon arrival in Istanbul. It was a crash that claimed the lives of three people and injured scores of others.

According to Anadolu, the flight deck crew were both interviewed by the authorities, but it was only captain Mahmut Arslan that was arrested.  According to the local news agency, the pilot had been arrested on charges of "involuntary manslaughter and causing injury,". No further details have so far been released. 

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120 injured as Pegasus plane skids off runway in Istanbul

Photo AFP

A Pegasus Airlines Boeing 737 Has skidded off the runway at Istanbul's Sabiha Gokcen airport injuring 120 people according to local media sources.

The jet skidded off the runway and then broke into three pieces and a small fire was quickly extinguished by the airport's emergency responders. 

The flight in from Izmir jet was carrying 171 passengers and 6 crew members at the time of the incident. The Turkish Transport Minister Mehmet Cahit Turhan said the aircraft failed to decelerate after a rough landing. He also said that the two pilots, a Turkish national and a South Korean, had also bee injured in the crash and had not yet spoken to authorities. It isn't known currently the severity of the flight deck crews conditions, however, some local media reports them as being in a serious condition. 

According to local media, the aircraft was landing in heavy rain with strong tailwinds Turkish media reports said.

Video footage shared on social media shows dazed passengers climbing through one of the large cracks in the aircraft's fuselage to escape down one of the crafts wings. In other images and videos, scores of rescue workers can be seen working around the broken aircraft.

Photo Reuters

 The budget carrier has a poor record of aircraft running off runways,   a 737 landing from Sharjah in the United Arab Emirates also skidded off the runway at the same airport on 7th January this year. In January 2018 another 737 skidded off the runway and partially own a cliff at Trabzon Airport.

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Pegasus Airlines aircraft crashes lands at Istanbul’s Sabiha Gokcen airport

A plane flying into Istanbul’s Sabiha Gokcen airport from Izmir skidded off the runway after landing and crashed on Wednesday, injuring 21 people, Turkish officials said.

The plane split into three pieces after what Transport Minister Cahit Turhan called a rough landing, adding that there were no fatalities. He said flights waiting to land in Sabiha Gokcen were diverted to Istanbul Airport. 

Pegasus 737 skids off Istanbul runway

A Pegasus Airlines Boeing 737-800 registration TC-CCK operating flight  PC747 from Sharjah International Airport in the United Arabic Emirates to Istanbul Sabiha Gokcen International Airport has skidded off the runway whilst landing in heavy rain today.

The accident occurred at around 0800 local time after the plane had landed and came off the runway in the rainstorm, ending up on the grass beside the tarmac.  All passengers were able to disembark the aircraft via the emergency slides and according to official no-one was injured. 

Pegasus Airlines launches daily flights from Manchester

Leading low-cost carrier Pegasus Airlines launched scheduled flights between Manchester Airport and Istanbul’s Sabiha Gokcen and beyond today, 1st July 2019. Pegasus is currently operating five flights each week but from the 21st July 2019 Pegasus will be increasing frequency to daily flights between Manchester and Istanbul Sabiha Gokcen, adding to the airline’s four-times daily flights from London Stansted in the UK.

Pegasus’  flights will connect Manchester Airport to 32 destinations across Turkey, including coastal, cultural and gourmet hotspots such as Alanya, Antalya, Bodrum, Dalaman and Izmir, and 39 international destinations including Abu Dhabi, Amman, Bahrain, Beirut, Bishkek, Doha, Dubai, Hurghada, Muscat, North Cyprus, Riyadh, Sharjah, Sharm El Sheikh, Tbilisi and Tel Aviv.

Pegasus Airlines set to take off from Manchester Airport with flights to Istanbul and beyond

Turkey’s leading low-cost carrier, Pegasus Airlines, will launch flights between Manchester Airport and Istanbul’s Sabiha Gokcen, on 1st July 2019.

Pegasus’ new flights will take off from Manchester Airport at 12:40, arriving into Istanbul Sabiha Gokcen at 18:50; flights from Istanbul will depart at 09:30, reaching Manchester Airport at 11:55. They will operate five times a week.

As well as offering Manchester Airport’s 28.5 million passengers additional access to the city of Istanbul, Pegasus’ flights will also allow them easy connections onto a host of international destinations such as Bahrain, Beirut and Sharjah. It will also offer seamless connectivity onto domestic flights across Turkey.

So close to disaster..... a lucky escape for 168 people on PC8622

Only in the cold light of day can it be clearly seen what a lucky escape the passengers and crew of the Pegasus Airlines Boeing 737-800  had when the aircraft skidded off the runway at Trabzon Airport. 

Early indications seemed to point at a bird strike for the cause of this '"- a runway excursion incident" as Pegasus called it, although a full investigation is already underway. A retired air crash investigator told us that it didn't seem likely to be as a bird-strike incident as the aircraft appeared to be going at a relatively low speed as it exited the runway and slid down the cliff. 'Had it been going faster, some break up of the fuselage would be expected, increasing the possibility of loss of life.' 

The aircraft was flying from Ankara to Trabzon, with 168 passengers and crew onboard the flight late on Saturday night.  It is believed that everyone on board was evacuated safely, and the local provincial governor, Yucel Yavuz said confirmed that no injuries were reported. Mr Yavuz said the airport was closed for several hours while investigations took place.

According to the Erdogan Government controlled Anadolu news agency, there was panic on the aircraft when it skidded out of control on the runway. "We tilted to the side. The front was down while the plane's rear was up. There was panic, people shouting, screaming," a passenger Fatma Gordu was quoted as saying.  However, from a video shown by local media, from inside the aircraft after it came to a halt, it seems remarkably relatively calm and ordered. 

Pegasus Airlines issued the following statement -

We’re sorry to report that the Boeing 737-800 type TC-CPF registered aircraft of Pegasus Airlines Flight Number PC 8622 Ankara-Trabzon flight scheduled at 18:25 UTC tonight, had a Runway Excursion Incident during landing at Trabzon Airport (13 January 2018). All 162 passengers, 2 pilots and 4 cabin crew have been disembarked safely from the aircraft. There has been no loss of life or injury to anyone on-board.

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Pegasus Airlines places order for 25 new Airbus A321neo's

The leading low-cost airline in Turkey, Pegasus Airlines placed an order for  25 Airbus A321neo aircraft it was announced on 21st December.

This new order comes on top of an order the carrier already had for 18 A321neo and 57 A320neos from Airbus, bringing a total of 100 firm orders from the airline.

Pegasus has decided to move to a pure all-Airbus fleet will further enhance positive strategy to grow both its domestic and international network with one of the best middle-of-the-market aircraft currently available.  Pegasus Airlines General Manager Mehmet T. Nane: “Turkey keeps strengthening its position in the world aviation market every day and we as Pegasus are an important part of this transformation. The order we placed in 2012 for 100 Airbus aircraft was the biggest order in Turkey’s aviation history at the time. We received the first aircraft of this order in Q3 2016 and now we have an agreement to convert 25 options into firm orders. We will continue to grow our fleet one step at a time and with our new aircraft we will continue to offer more comfortable flights for our passengers.”

“The latest Pegasus Airlines’ order for the A321neo ACF variant underlines that Airbus offers the best, most efficient and most comfortable solution in the Middle of the Market segment,” said John Leahy, Chief Operating Officer – Customers, Airbus Commercial Aircraft. “Combining latest innovations in cabin design with unprecedented capacity and range capabilities, the A321 ACF will further boost the airline’s passenger experience and competitiveness in the highly contested growth market while reducing its environmental footprint.”

Double Up Airbus Order For Pegasus

The Turkish low-cost carrier, Pegasus Airlines, confirmed last week that they have increased their order for new Airbus A320neo's.

Speaking at London's Design Centre for the Aviation Festival the airlines boss CCO Guliz Ozturk said the airline will now double its order for the new aircraft from three to six. “We already have the youngest fleet in Turkey and one of the youngest in Europe comprising 77 aircraft with an average age of 5.80 years - and with the new deliveries, the average age will fall even further as we look to create our fleet of the future to improve the customer experience, drive efficiencies and reduce our environmental impact across the board ¬ a vital part of our strategy to transform travel in our region,” Guliz Ozturk said.

Founded in 2005, Pegasus Airlines currently flies to around 108 destinations in 40 countries across Europe, Russia and the Caucasus, the Middle East, North Africa and Asia.

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BIG losses for Turkish Airline

The Turkish low-cost carrier, Pegasus Airlines has posted big losses for 2016,   the troubled airline reported its net loss of 136.2 million Turkish lira ($36.1 million).  A massive change from last years 11.9 million profit.