Pegasus Aviation is to expand its portfolio of new Airbus and Boeing aircraft and increase the company's share of the sale-and-leaseback market in Europe and Asia-Pacific in the wake of recent transactions in Finland and China.
"We're buying new aircraft from the airlines and the average age of our fleet is now seven-eight years. Our focus is on the Boeing 757 and Airbus A320, which represent 37% of our total fleet of 223 aircraft of all types," says Richard Wiley, Pegasus president and chief executive.
San Francisco-based Pegasus' main market is North America, representing around 35% of its $462 million business to the end of March. Latin America accounts for 25% followed by Asia and Europe with 17% and 15%, respectively. "Our area of growth this year will be Asia-Pacific and Europe," says Wiley, areas which he expects will each expand to 20% over the next 30 months.
Newly concluded deals include the purchase/leaseback of a 757-200ER and lease of a Boeing 737-700 to Shanghai Airlines. The privately owned company in late March concluded the purchase and leaseback of two Boeing MD-83s and a MD-82 to Finnair, followed by the lease of a Boeing 767-300ER to Air Europe.
Source: Flight International
