Turkish low-cost carrier Pegasus has disclosed a pre-tax loss of TL144 million ($39 million) for 2016, after a profit of TL182 million in 2015.
The Turkish market contracted last year, with the number of tourists visiting the country falling 30% to 25.3 million, Pegasus notes in an investor presentation posted online.
However, Pegasus says it carried more 10.7% more passengers domestically and 3.9% more internationally, though yield fell 2.1% domestically and 15.7% internationally.
To manage its capacity, Pegasus is postponing until 2018 the delivery of three of the five Boeing 737-800s that had been due to arrive this year. The carrier is also looking to sell 10 of the jets in its current fleet.
Pegasus says it is still negotiating the financing for three Airbus A320neos set to be delivered this year. FlightGlobal understands it is seeking finance leases for the re-engined narrowbodies.
Source: Cirium Dashboard
