Here is the presentation and financial report for Pegasus Airlines’ Q2 2024:
- 19% Increase in Passenger Numbers: Pegasus recorded a 19% increase in total passenger numbers in Q2 2024.
- Record High International Load Factor: The international load factor reached its highest level at 85.3% in Q2 2024.
- Revenue Growth of 16%: Sales revenue grew by 16% in Q2 2024, reaching €763 million.
- Net Profit Up by 23%: Pegasus’ net profit for Q2 2024 increased by 23%, reaching €112 million.
- Fleet to Reach 118 Aircraft in 2024: The fleet will be expanded by 11 A321neo aircraft by the end of the year.
- 7% Increase in Ancillary Revenue: Ancillary revenue per passenger rose by 7% in Q2 2024, reaching €28.
- Planned Capacity Growth of 12%-14% for 2024: Pegasus anticipates a total Available Seat Kilometers (ASK) growth of 12%-14% for 2024.
Pegasus Airlines has released its second quarter financial results for 2024 and its consolidated financial report as of June 30, 2024, in accordance with International Financial Reporting Standards (IFRS) in Euros. Pegasus delivered a strong performance compared to the same period last year and continues to progress toward its targets.
Operational Performance
- Available Seat Kilometers (ASK): In the second quarter of 2024, total ASK increased by 11% compared to the same period last year. International ASK grew by 9%.
- Load Factor: The total load factor increased by 6.2 points to 87.5% in Q2 2024. The international load factor reached 85.3%, marking the highest level for a second quarter to date.
- Passenger Numbers: Total passenger numbers increased by 19% compared to the second quarter of last year, reaching 9.4 million. International passenger numbers rose by 15%, reaching 5.8 million.
Financial Performance
- Revenue: The company’s Q2 2024 revenue reached €763 million, representing a 16% increase compared to the same period last year. Ancillary revenue per passenger was €28.0.
- EBITDA: Earnings Before Interest, Taxes, Depreciation, and Amortization (EBITDA) was recorded at €230 million.
- Net Profit: Q2 2024 net profit amounted to €112 million.
Forward-Looking Expectations
Pegasus aims for a total ASK growth of 12%-14% in 2024, with Revenue per Available Seat Kilometer (RASK) expected to remain flat compared to 2023. The EBITDA margin is projected to be in the range of 28%-30%.
Fleet Development
- Fleet Size: As of June 30, 2024, Pegasus’ fleet consists of 108 aircraft. The fleet size is expected to increase to 118 aircraft by the end of the year.
- New Routes: In 2023 and 2024, the international flight network was expanded with new destinations launched from Istanbul Sabiha Gökçen Airport, including Plovdiv, Amman, and Birmingham.
In the first half of 2024, Pegasus Airlines demonstrated robust operational and financial performance. The company remains committed to achieving its strategic goals while working to enhance passenger satisfaction and capitalize on growth opportunities. Pegasus’ strong financial structure and young fleet support its determination to achieve future growth objectives.
https://www.kap.org.tr/en/Bildirim/1324198
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