Pegasus Airlines SWOT: ultra-low costs and profitability for Türkiye's number two

In 1H2024 Pegasus Airlines achieved ASK growth of 19%, with passenger numbers up by 22%. This led the Turkish ultra-low cost airline to revise its full-year 2024 ASK growth guidance range from 10%-12% to 12%-14%.

Pegasus reported the highest EBIT margin among European airlines in 2023 - a sign of the success of its model.

A rising challenge in 2024 is the renewed competitive threat posed by Turkish Airlines' low cost subsidiary AJet, the number two operator at Istanbul Sabiha Gökçen Airport, which is Pegasus' main hub.

In this report, CAPA - Centre for Aviation considers Pegasus Airlines' strengths, weaknesses, opportunities and threats.