Pegasus Airlines

Pegasus Airlines is a Turkish low-cost carrier headquartered in the Kurtköy area of Pendik, Istanbul. Established on 1 December 1989 by Net and Silkar in partnership with Ireland’s Aer Lingus, the company initially operated as an inclusive-tour charter airline. Its first services began in April 1990 with Boeing 737-400 aircraft. The business was affected by the Gulf crisis and the resulting collapse in Turkish tourism, but demand recovered during the early 1990s. Aer Lingus and Net later sold their interests to Yapı Kredi, leaving Pegasus under Turkish ownership. A decisive transformation took place after ESAS Holding acquired Pegasus in January 2005. Under the leadership of Ali Sabancı, the company moved from a predominantly charter-oriented model to a scheduled low-cost airline. The strategy emphasized high aircraft utilization, a simplified one-class cabin, ancillary revenue, direct online sales, and a broad network linking Turkey with European, Middle Eastern, North African, and Central Asian markets. Istanbul Sabiha Gökçen International Airport became the airline’s principal hub, while additional Turkish bases supported domestic and international flying. Pegasus expanded its fleet through successive Boeing 737-800 orders and became an early Airbus customer in Turkey when it committed in 2012 to up to 100 A320neo-family aircraft, including A320neos and A321neos. The order supported a transition toward a predominantly Airbus narrow-body fleet and gave the carrier additional capacity and fuel-efficiency options. Pegasus also pursued regional expansion: it acquired a 49% interest in Kyrgyz carrier Air Manas in 2012, and Air Manas operated flights under the Pegasus Asia brand from 2013. A proposed partnership with Air Berlin created Air Berlin Turkey in 2011, but the operation was later absorbed into Pegasus. The airline floated 34.5% of its shares on Borsa Istanbul in April 2013 under the symbol PGSUS. ESAS Holding remained the controlling shareholder after the offering. Pegasus has since developed into one of Turkey’s largest airlines, with a network spanning more than 100 destinations and, according to the cited reference material, 148 destinations in 53 countries in July 2024. The company has also operated its own flight-crew training and maintenance organizations, allowing it to support internal workforce development and technical operations. Pegasus generally sells a low base fare and charges separately for optional services such as checked baggage, food, beverages, seat selection, and other travel extras. Its aircraft normally use a single-class configuration. The onboard Flying Cafe offers food and drinks for an additional fee, consistent with the carrier’s unbundled fare model. The airline’s fleet is centered on Airbus A320neo-family aircraft, supplemented historically and operationally by Boeing 737-family jets. Pegasus has faced operational criticism concerning delays, compensation handling, and customer service, and it experienced several serious safety events, including the fatal runway overrun at Istanbul Sabiha Gökçen in February 2020. The company also disclosed a major data-exposure incident in 2022 involving its PegasusEFB electronic flight-bag environment. Despite these controversies, Pegasus remains active as a major Turkish low-cost airline, serving leisure, visiting-friends-and-relatives, and price-sensitive business traffic across a geographically extensive network. Reference material also reports a December 2025 agreement to acquire Smartwings and Czech Airlines; the completion and final terms of that transaction require verification against current company or regulatory disclosures.

Pegasus Airlines was created on 1 December 1989 by Turkish companies Net and Silkar together with Aer Lingus. The original business was an inclusive-tour charter carrier, and commercial operations began on 15 April 1990 using two Boeing 737-400 aircraft. The airline entered service during a difficult period for Turkish tourism: Iraq’s invasion of Kuwait and the subsequent occupation sharply reduced tourist demand. Pegasus nevertheless expanded after tourism recovered, adding another 737-400 and leasing Airbus A320 aircraft for seasonal capacity. In 1994, Aer Lingus and Net sold their shares to Istanbul-based Yapı Kredi, making Pegasus a wholly Turkish-owned airline. The company continued to develop its fleet and in September 1997 ordered a Boeing 737-400 and a Boeing 737-800. This made it the first Turkish airline to order Boeing’s Next Generation 737, followed by leases for additional 737-800s. Further Boeing orders were placed in 2005 and 2008. ESAS Holding acquired Pegasus in January 2005. Two months later, the new ownership redirected the company from charter flying toward the scheduled low-cost model for which it became known. The strategy combined a large domestic network with international routes, a primary base at Istanbul Sabiha Gökçen Airport, direct distribution, high aircraft utilization, and a fare structure that separated the basic seat from optional services. In 2007, the airline’s domestic market share was reported at 15%, rising to 27% by 2013. Pegasus carried 29.87 million passengers in 2019, according to the cited reference material. The company expanded through partnerships and fleet investment. In 2011, it and Air Berlin created Air Berlin Turkey for charter services between Germany and Turkey, but the venture was incorporated into Pegasus in March 2013. Pegasus purchased 49% of Kyrgyz airline Air Manas in June 2012, and Air Manas began operating under the Pegasus Asia name in March 2013. In December 2012, Pegasus committed to as many as 100 Airbus A320neo-family aircraft, including A320neo and A321neo variants. The order marked Airbus’s entry as a Pegasus supplier and was described as the largest commercial aircraft order by a Turkish airline at that time. Pegasus became a public company in April 2013, when 34.5% of its shares were offered and trading began on Borsa Istanbul under PGSUS. ESAS Holding remained the controlling shareholder. In 2016, the airline offered several aircraft on the ACMI and leasing markets amid declining passenger numbers. The company has also maintained internal flight-crew training and aircraft-maintenance organizations, distinguishing its operating platform from carriers that outsource most such functions. The airline experienced a number of aviation incidents. A 2010 ferry flight operated by subsidiary IZair made an emergency landing at Frankfurt after a nose-gear malfunction. In 2014, a passenger attempted to hijack a Pegasus Boeing 737 and demanded a flight to Sochi; the aircraft landed safely in Istanbul. In 2018, a flight at Trabzon left the runway and stopped near the Black Sea, with all occupants surviving. Another runway overrun at Sabiha Gökçen in January 2020 caused substantial aircraft damage but no injuries. On 5 February 2020, Pegasus Flight 2193 overran the same airport’s runway, the fuselage broke into three sections, and an engine caught fire. Three people died and 179 were injured. Former employees subsequently alleged that commercial pressure, rapid turnarounds, and inadequate safety practices had been prioritized; these claims should be distinguished from formal accident findings. In March 2022, Pegasus announced that Güliz Öztürk would become CEO from 1 May, succeeding Mehmet T. Nane, who moved to the vice-chairmanship of the board. Öztürk was identified in the cited material as the first woman to become chief executive of an airline in Turkish civil aviation. Pegasus has continued operating an extensive international network, including services to Russia despite the geopolitical and sanctions environment following Russia’s invasion of Ukraine. The policy has attracted scrutiny because many Western airlines suspended Russian routes or avoided Russian airspace. A separate corporate-security controversy emerged in August 2022, when an incorrectly configured Amazon S3 bucket associated with PegasusEFB was accessible from the public internet. The exposed material reportedly exceeded 6.5 TB and included internal passwords and flight-crew personal information. The event raised data-protection concerns and potentially exposed Pegasus and other users of the system to regulatory penalties. Customer and industry criticism has also focused on delays and compensation handling; cited rankings placed Pegasus among the poorer-performing airlines for delays from UK airports in 2022 and overall airline experience in 2024. Reference material reports that Pegasus agreed in December 2025 to acquire Smartwings and Czech Airlines for €154 million. Because that date is beyond the historical period covered by much of the available material, the status, completion, ownership consequences, and regulatory approvals of the transaction require separate verification.

• 2022

  Güliz Öztürk becomes chief executive

  [1]Pegasus Airlinesen.wikipedia.org

  Öztürk assumed the CEO role on 1 May, succeeding Mehmet T. Nane.

• 2020

  Fatal Sabiha Gökçen runway overrun

  [1]Pegasus Airlinesen.wikipedia.org

  Flight 2193 overran the runway, killing three people and injuring 179.

• 2013

  Listing on Borsa Istanbul

  [1]Pegasus Airlinesen.wikipedia.org

  A 34.5% public offering began trading under the ticker PGSUS.

• 2012

  Airbus neo-family order announced

  [1]Pegasus Airlinesen.wikipedia.org

  Pegasus committed to up to 100 A320neo-family aircraft, including A320neo and A321neo models.

• 2005

  ESAS Holding acquires Pegasus

  [1]Pegasus Airlinesen.wikipedia.org

  ESAS Holding purchased the airline and began its conversion to a scheduled low-cost carrier.

• 1997

  First Turkish Boeing 737 Next Generation order

  [1]Pegasus Airlinesen.wikipedia.org

  Pegasus ordered Boeing 737-400 and 737-800 aircraft and later leased additional 737-800s.

• 1994

  Ownership becomes wholly Turkish

  [1]Pegasus Airlinesen.wikipedia.org

  Aer Lingus and Net sold their interests to Yapı Kredi.

• 1990

  Commercial operations begin

  [1]Pegasus Airlinesen.wikipedia.org

  Pegasus inaugurated services on 15 April with two Boeing 737-400 aircraft.

• 1989

  Pegasus Airlines is established

  [1]Pegasus Airlinesen.wikipedia.org

  Net and Silkar formed Pegasus in partnership with Aer Lingus as an inclusive-tour charter airline.

Value-oriented, digitally distributed low-cost airline offering a broad Turkey-centered international network and separately priced travel services.

• Passenger air transport · 2005

  Domestic scheduled flights

  Pegasus connects Istanbul and other Turkish bases with a network of domestic destinations. The product is built around low base fares and optional charges for services such as baggage, seat selection, onboard catering, and other extras. Domestic flying provides the volume foundation for the airline’s wider international network.

• Passenger air transport · 1990

  International scheduled flights

  The airline operates international services across Europe, the Middle East, North Africa, and Central Asia. Its network is centered on Turkey as a geographic bridge between European and Asian markets, with routes serving leisure travelers, visiting-friends-and-relatives traffic, and price-sensitive business passengers.

• Ancillary service

  Flying Cafe

  Flying Cafe is Pegasus’s paid onboard food and beverage service. Rather than including a full meal in the basic fare, the airline offers passengers the ability to purchase selected snacks, meals, and drinks during the flight. This supports the carrier’s unbundled low-cost commercial model.

• Aviation training

  Pegasus flight-crew training

  Pegasus operates a licensed flight-crew training center used to prepare pilots and other aviation personnel. The organization supports the airline’s staffing needs and forms part of its vertically integrated operating platform.

• Aircraft maintenance

  Pegasus Technic

  Pegasus Technic is the airline’s licensed maintenance organization. It provides technical support for the fleet and reduces reliance on fully outsourced maintenance arrangements, although the scope of services and current certifications should be checked against company disclosures.

• 2022

  PegasusEFB data breach

  An incorrectly secured cloud-storage bucket exposed more than 6.5 TB of data, including internal passwords and flight-crew information. The incident raised corporate-negligence and data-protection concerns and potentially triggered a fine under Turkish privacy regulation.

  Source

• 2022

  Delay and compensation complaints

  Passenger criticism and third-party rankings identified extended delays and difficulties obtaining compensation as recurring problems. The cited material placed Pegasus among the weakest performers for UK-airport delays in 2022 and among the lowest-ranked airlines in an AirHelp assessment for 2024.

  Source

• 2020

  Safety and labor-practice criticism after Flight 2193

  After the fatal February 2020 runway overrun, former employees publicly alleged that commercial targets, rapid turnarounds, pressure on staff, and abbreviated safety or hygiene practices had been prioritized. These allegations were reported as employee criticism and should not be treated as established findings without corroborating official investigations.

  Source

Read more

• 2013Pegasus Asia

  Kyrgyzstan · Turkey · Central Asia

  Following Pegasus’s investment in Air Manas, the Kyrgyz carrier operated its first flight under the Pegasus Asia brand.

  Outcome. Provided a regional brand and operating platform associated with Pegasus’s Central Asian expansion.

  Source
• 2011Air Berlin Turkey

  Germany · Turkey

  Pegasus and Air Berlin launched a jointly branded operation aimed at charter traffic between Germany and Turkey. The venture was later absorbed into Pegasus in 2013.

  Outcome. Absorbed into Pegasus Airlines on 31 March 2013.

  Source
• 2011Galatasaray stadium sponsorship

  Turkey

  Pegasus was an official sponsor of Nef Stadium, the home venue of Turkish football club Galatasaray, during the 2011–2013 period.

  Outcome. Sponsorship concluded after the reported 2011–2013 term.

  Source

• 2025

  Agree to acquire Smartwings and Czech AirlinesM&A

  Background

  Reference material reports a proposed expansion into Central European airline assets.

  Action taken

  Pegasus reportedly signed an agreement to acquire Smartwings and its subsidiary Czech Airlines.

  Aftermath

  The reported transaction requires verification of closing, regulatory approval, final consideration, and post-acquisition integration.

  Reported transaction value. €154 million (December 2025 announcement)

  Source

• 2022

  Change chief executiveStrategy

  Background

  Pegasus announced a planned leadership transition in March 2022.

  Action taken

  Güliz Öztürk became CEO on 1 May 2022, replacing Mehmet T. Nane, who became vice-chairperson of the board.

  Aftermath

  Öztürk became the first woman identified in the cited material as CEO of an airline in Turkish civil aviation.

  Source

• 2013

  Complete the public offeringStrategy

  Background

  ESAS Holding sought to place part of Pegasus’s equity on the Turkish capital market while retaining control.

  Action taken

  Pegasus offered 34.5% of its shares to the public, and the stock began trading on Borsa Istanbul as PGSUS on 26 April.

  Aftermath

  Pegasus became a listed airline while ESAS Holding remained its controlling shareholder.

  Source

• 2012

  Order the Airbus A320neo familyProduct launch

  Background

  Pegasus required a modern, fuel-efficient fleet to support expansion and the economics of its low-cost model.

  Action taken

  The airline committed to up to 100 A320neo-family aircraft, including 57 A320neos and 18 A321neos as firm orders according to the cited reference.

  Aftermath

  The order made Pegasus a new Airbus customer and accelerated the development of an Airbus-centered narrow-body fleet.

  Source

• 2005

  Adopt the low-cost airline modelStrategy

  Background

  After ESAS Holding acquired Pegasus, management sought to move beyond the company’s original inclusive-tour charter model.

  Action taken

  Pegasus shifted toward scheduled low-cost operations, with a high-utilization fleet, direct sales, simplified cabins, and separately priced ancillary services.

  Aftermath

  The change established the business model that underpinned Pegasus’s domestic growth and subsequent international expansion.

  Source

• 2020.09.12

  Reported2020.09.12

  Pegasus announces Karachi–Istanbul flights[3]Pegasus 宣布开通卡拉奇至伊斯坦堡航线propakistani.pk

  Pegasus announced a new Karachi–Istanbul Sabiha Gökçen flight service, with flights scheduled to commence on 25 September 2020.

Read more

1. 1Pegasus Airlinesen.wikipedia.org
2. 2Pegasus Airlines official websiteflypgs.com
3. 3Pegasus 宣布开通卡拉奇至伊斯坦堡航线propakistani.pk