In an interview with Reuters on Sunday, Pegasus Airlines CEO Güliz Öztürk announced that Turkey’s leading budget airline will begin working on new aircraft orders to sustain its rapid growth over the next decade.
Rapid Recovery Post-Pandemic
Experiencing a swift recovery in travel post-pandemic, Pegasus placed an order for 36 Airbus A321neo aircraft in July 2023, bringing its total orders since 2012 to 150. Öztürk noted that 16 of these orders will be delivered in 2024, with the remaining 52 aircraft joining the fleet by the end of 2029.
Long Waiting Times
With Airbus and Boeing’s production slots filled for years to come, airlines face long waiting periods. “After 2029, we want to grow, there’s demand, and we need to place a new order,” Öztürk stated. However, she added that no specific decisions or plans have been made in this regard yet.
Challenges in the Aviation Industry
At the annual meeting of the International Air Transport Association (IATA) held in Dubai this week, airline CEOs, aircraft manufacturers, engine producers, and lessors gathered. The main topics included supply chain issues and delays in aircraft deliveries. Safety concerns at American aircraft manufacturer Boeing and production delays at Airbus have forced airlines to plan new orders well in advance.
Dual Fleet Strategy
Pegasus currently operates a fleet of 105 aircraft, consisting of both Boeing and Airbus planes. When asked about the effectiveness of a dual fleet strategy, Öztürk noted that operating a single fleet might seem simpler, but having two manufacturers in the picture provides an advantage when there are delivery delays. She also emphasized that Pegasus has not faced significant delays with Airbus deliveries.
Cost Management and Demand
Öztürk highlighted that managing costs and keeping up with demand are among the biggest challenges during a period of geopolitical tensions, rising fuel prices, and increasing inflation. Despite the disruptions, Pegasus aims to achieve an operating profit margin of 28% to 30% in 2024.
International Expansion
In 2023, Pegasus added 20 new international routes, including cities such as Amman, Warsaw, and Birmingham, increasing its total flight network to 138 destinations across 53 countries. To meet demand, the airline took delivery of 15 new Airbus aircraft and leased three planes on a wet lease basis. Öztürk also mentioned that the decision to operate Boeing planes longer than initially planned was made to ensure capacity.
New Route Plans
Pegasus plans to add more routes this year. Öztürk stated that within the six-hour range of the current fleet, there are 67 countries and 500 destinations, indicating unused potential.
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