Pegasus Airlines revenue 2018-2023
Pegasus Airlines, a Turkish low-cost carrier, demonstrated remarkable financial resilience in 2023, generating revenue of approximately 2.7 billion euros. This figure represents a significant recovery and growth from the pandemic-induced slump in 2020, when revenue plummeted to 629 million euros. The airline's robust performance reflects broader trends in Turkey's aviation sector, which has seen a strong rebound in passenger numbers and air freight volumes.
Passenger growth and fleet expansion
The revenue surge aligns with Pegasus Airlines' increased passenger traffic. In 2023, the airline carried roughly 32 million passengers, marking a new peak and a substantial recovery from the 14.71 million passengers recorded in 2020. To accommodate this growth, Pegasus expanded its fleet to 109 aircraft in 2023, with A320 planes comprising the largest share at 52 units. This fleet expansion has positioned the airline to capitalize on the growing demand for air travel in Turkey and beyond.
Turkish aviation sector recovery
Pegasus Airlines' success is part of a broader recovery in Turkey's aviation sector. In 2023, Turkish airports handled a record 123 million international passengers, rebounding strongly from the pandemic-induced decline. The air freight sector also showed improvement, with Turkish airports handling 4.4 million metric tons of freight in 2023, the majority being international cargo.
