Dark/Light Mode
(01/06/23)
Pegasus Airlines' financial
performance in 2022 has resulted in upgrades in its credit
rating.
The airlines' long-term credit rating was upgraded
from B+ to BB- by Fitch Ratings on 14 April 2023
and from B to B+ by S&P Global Ratings on 23 May 2023.
Fitch
and S&P announced their credit ratings with “Negative Outlook",
mirroring that of the current macroeconomic conditions, and revised the credit
rating of the senior unsecured debt issued by Pegasus Airlines
accordingly.
Tailfin of a Pegasus Airlines Airbus A320neo powered by CFM International LEAP-1A engines
In the reports published by Fitch and S&P, the
rating upgrade is attributed to Pegasus' strong
operational and financial results in 2022 and the subsequent
quarterly period.
Among global airline operators, Pegasus
recorded the highest EBITDA margin with 34.1% and the lowest
non-fuel unit cost (CASK, non-fuel) with 2.18 euro cents, based on
public data.
In 2022, the carrier increased the number of
passengers it carried by 34%, and grew its revenue by 139%,
year-on-year. The airline also achieved €69 million EBITDA and a
15.1% EBITDA margin in the first quarter of 2023, making it
highest first quarter performance in the company's history.
“Despite 2022 starting with challenges for the
aviation industry due to the Omicron variant and a backdrop of
macroeconomic and geopolitical tensions, it ultimately became a
year of rapid travel demand recovery compared to the pandemic
period. The year continued with a strong summer
season and presented a favourable operating environment for
airlines that were well-prepared for this resurgence. In 2022,
which we started operationally and financially well prepared, we
achieved the best financial performance in the global aviation
sector, by managing our operations effectively in parallel with
robust demand,” said Barbaros Kubatoğlu, Chief Financial Officer
(CFO) of Pegasus Airlines. “It is of great significance to us that our 2022
performance, which continues with the same success in the first
quarter of 2023, is recognised by independent rating agencies, and
that this performance is also emphasised as sustainable.”
Latest
exclusive video interviews : Visit Aarhus - Interview
with Pia Lange Christensen, CEO ; Aarhus
Airport (AAR) in Denmark - Interview with Lotta Sandsgaard, CEO ;
Lodz
Airport (LCJ) Central Poland - Interview with Robert Makowski, CCO ;
GLA, SOU
and ABZ Airports - Interview with Christopher Tibbett, Aviation
Director ;
Greenland
Airports - Interview with Jens R. Lauridsen, CEO ;
Airsiders -
Interview with Antonio Pascale, Commercial Director ;
Hannover
Airport (HAJ) - Interview with Prof. Dr. Martin Roll, CEO ;
Princess
Juliana International Airport (SXM) - Interview with Michiel
Parent, Commercial Director ;
Isle of Man
Airport (IOM) - Interview with Gary Cobb, Airport Director ;
London
Southend Airport (SEN) - Interview with Marc Watkins, Route
Development Manager ;
PDC Airport
Solutions - Interview with Flemming Glyager at Routes Europe 2024 ;
Visit
Estonia - Interview with Kristina Kästik, B2B Team Lead ;
Tallinn Airport (TLL) in Estonia -
Interview with Eero Pärgmäe Board
Member and CCO ;
Visit Isle
of Man - Interview with Deborah Heather, CEO, at Routes Europe
2024 in Aarhus, Denmark ;
OAG -
Interview with Chelsea Waller at Routes Europe 2024 in Aarhus,
Denmark ; Aarhus
Sea Rangers in Denmark - Interview with Niels K. Nielsen, Head of
Guides ; 9 HD Video Interviews from Routes Asia 2024 in Langkawi, Malaysia ;
Standard to Open Residences in Hua Hin and Phuket, Thailand; Video
Interview with Amar Lalvani, Executive Chairman ;
9 Exclusive Video Interviews
from ASEAN Tourism Forum
2024
in Vientiane, Laos;
8 NTO Press Conferences from ASEAN Tourism Forum 2024 in
Vientiane, Laos ;
13 HD Video Interviews from World Travel
Market 2023 in London, England ;
5 HD Video Interviews from APG World Connect 2023 in Monaco, France ;
15 HD Video Interviews from Routes World 2023 in Istanbul, Türkiye ; and
Electric Airport Taxis at Almaty Airport (ALA) in Kazakhstan - HD
Video Interview with CEO .
Headlines:
OUE Awarded Tender for 255-Room Zero-Energy Hotel at Changi Airport, Singapore
Korean Air to Launch Seoul Incheon - Macau Flights
John Girard Joins Plaza Premium as General Manager Operations - Hong Kong
IndiGo to Order 30 A350-900s Powered by 60 Rolls-Royce Trent XWB-84s
Sabre Expands Lodging, Ground & Sea Team
Lodz Airport (LCJ) Central Poland - Interview with Robert Makowski, Commercial Director (CCO)
Greenland Airports - Interview with Jens R. Lauridsen, CEO
Glasgow (GLA), Southampton (SOU) and Aberdeen Airports (ABZ) - Interview with Christopher Tibbett, Aviation Director
Visit Aarhus - Interview with Pia Lange Christensen, CEO
Aarhus Airport (AAR) in Denmark - Interview with Lotta Sandsgaard, CEO
Visit Estonia - Interview with Kristina Kästik, B2B Team Lead, at Routes Europe 2024
Airsiders - Interview with Antonio Pascale, Commercial Director, at Routes Europe 2024
PDC Airport Solutions - Interview with Flemming Glyager at Routes Europe 2024 in Aarhus, Denmark
Hannover Airport (HAJ) - Interview with Prof. Dr. Martin Roll, CEO
Princess Juliana Airport (SXM) - Interview with Michiel Parent, Commercial Director
London Southend Airport (SEN) - Interview with Marc Watkins, RDM
Tallinn Airport (TLL) in Estonia - Interview with Eero Pärgmäe Board Member and CCO
Isle of Man Airport (IOM) - Interview with Gary Cobb, Airport Director
Visit Isle of Man - Interview with Deborah Heather, CEO, at Routes Europe 2024
OAG - Interview with Chelsea Waller at Routes Europe 2024 in Aarhus, Denmark
Aarhus Sea Rangers in Denmark - Interview with Niels K. Nielsen, Head of Guides
IHG Signs Crowne Plaza Hotel in Dehradun, India
Air Astana and Neos Sign MOU on Strategic Partnership
Fiji Airways to Use Assaia's TurnaroundControl Solution
AirX Signs LOI with Eve For Up To 50 eVTOL Aircraft
Executive Changes as bp Simplifies Organisational Structure
Thai AirAsia to Launch Daily Flights Between Suvarnabhumi and Hat Yai
Lufthansa's Brand New Long-Haul Allegris Cabin to Enter Service on 1 May
Bangkok Airways Extends Partnership with Sabre
IHG Expanding Garner Hotels Midscale Conversion Brand to More Countries
CWT Expands Access to Finnair NDC Content in Finland and the Nordics
Tourism Malaysia Extends Data and Market Intelligence Agreement with Travelport
Rajiv Bhatia Joins Sabre as Executive Director - Asia Pacific Market Expansion
Copenhagen Home to First Fairfield by Marriott Hotel in Europe
Hawaiian Airlines' New Flagship Aircraft Enters Service
Travelodge Opens Fourth Hotel in Seoul, South Korea
Sabre Partners South Korean OTA, InterparkTriple
British Airways Upgrading Weather Data Available to Pilots and Flight Planning Teams
Air Astana Increases Flights and Resumes Services to Select Destinations
Jean-Marie Le Gall Appointed General Manager of The Woodward Hotel in Geneva, Switzerland
IHG Signs Second Kimpton Hotel in Portugal
Scoot Takes Delivery of First of Nine E190-E2 Aircraft from Azorra
Finnair Updates Summer 2025 Flight Schedule
Delta Air Lines Launches Thrice Weekly Munich - New York JFK Flights
Japan Coast Guard to Expand Fleet with Three Airbus H225 Helicopters
EL AL to Implement NetLine/Ops ++
Sabre to Upgrade Japanese Hotel Company's Distribution and Retailing Strategy
Air Astana Upgrades Safety Training with CEET and RFFT Simulators in Astana, Kazakhstan
Dean Dimitriou Returns to The Murray Hong Kong as Hotel General Manager
ASM Global Appoints Matthew Lazarus-Hall as EVP Entertainment & Content
Thai Lion Air Launches Bangkok - Kochi Flights; Appoints Çelebi as Ground Handler
Onyx Hospitality Signs Shama Serviced Apartments in Rayong, Thailand
AirAsia X to Resume Flights Between Kuala Lumpur and Changsha, China
IndiGo to Launch Kozhikode - Kochi - Agatti Flights
Neste Supplying Emirates with SAF at Amsterdam Schiphol Airport; Changi Next
Amadeus Completes Acquisition of Vision-Box
AirJapan Enhances Operations with Radixx PSS
New Zealand Men and Women Win Final Sevens Tournament at Hong Kong Stadium
Korean Air to Operate Seasonal Charter Flights Between Seoul Incheon and Taichung, Taiwan
Pegasus Airlines Launches Flights Between Ankara and Lisbon, Portugal
Smiths Detection Appoints Jerome de Chassey as President
AirAsia X Resumes Flights Between Kuala Lumpur and Xi'an, China
Cathay Cargo Resumes Freighter Flights from Saigon, Vietnam
SITA Publishes White Paper on Role of Biometrics in Air Travel
Cheval Collection Expands Global Hotel Alliance's Portfolio to Serviced Apartments
Langham Rebrands Hotel in Foshan, China
Aviation: International Passenger Demand Up 26.3%; Asia Pacific Airlines Report 53.2% Increase
International Air Cargo Demand Up 12.4% in February 2024; Capacity Up 16%
L'Occitane Group Appoints Green Yip as Regional MD - Travel Retail Asia Pacific
Le Bristol Paris Appoints Arnaud Faye as Executive Chef
Chris Kemlo Appointed General Manager of The Calile Hotel in Brisbane, Australia
Sabre Space Roadshow to Take Place in Delhi and Mumbai, India
Malaysia Airlines and IndiGo to Codeshare
Accor Expands Portfolio with 22 Hotels in Japan
Hong Kong Airlines Resumes Flights to Kagoshima, Japan
FlyArystan Receives AOC from Aviation Administration of Kazakhstan
Marriott Opens Resort on Perhentian Keci Island in Terengganu, Malaysia
AirAsia Malaysia Resumes Kuching - Penang and Kota Kinabalu - Penang Flights
Hong Kong Stadium Prepares for Final Sevens; International Fans Buy Over 40% of Tickets
ExecuJet Opens New MRO Facility at Subang Airport Near Kuala Lumpur, Malaysia
Michelle Freyre to Join United Airlines' Board of Directors
Lloyd's Inn Kuala Lumpur to Open 1 April
Korean Air Unveils New Maintenance, Aerospace, Cargo and Ground Handling Uniforms
SalamAir to Launch Flights Between Muscat and Tirana, Albania
IHG Unveils New Staybridge, Candlewood and Atwell Suites Prototypes in USA
DHL Aviation Extends Partnership with Worldwide Flight Services in France
United Airlines Installing Larger Overhead Bins on Embraer E175 Fleet
Not Everyone Wants to Use an App; Bonza Enhances Booking Options with Website
Amadeus Expands Travel4Impact Globally; Applications Open Until 30 April
Asia Pacific Airlines Carried 27 Million Int. Passengers in February; Cargo Demand Up 10.2%
Aris Maroulis Joins TUMI as Vice President Asia-Pacific and the Middle East
AirAsia Malaysia to Resume Flights Between Kuala Lumpur and Vientiane, Laos
First Courtyard by Marriott Hotel in Western Australia Opens in Murdoch, Perth
Qantas Appoints Nick McGlynn as Executive Vice President - Asia
HotelREZ Renews Partnership with Sabre Hospitality
Marlon Abeyakoon Appointed GM of NH Collection Maldives Havodda Hotel
Amex GBT Signs Deal to Buy CWT
Korean Air Connects Cargo Booking System with DHL Global Forwarding
Sean Seah Returns to Langham as Senior Vice President - Strategy, Technology and Innovation
Radisson Targets 25 Hotels in Morocco by 2030; Expands Role of Erwan Garnier
Airbus to Enhance Cybersecurity Capabilities with Infodas Acquisition
Mandarin Oriental Exclusive Homes Adds 16-Bedroom Chateau in France to Portfolio
Korean Air to Order 33 Airbus A350 Aircraft
AAPA to Host Turboprop Safety Conference in Kuala Lumpur, Malaysia
Nassau, Bahamas to Host Routes Americas 2025 in February
FlyAngola Appoints APG as Offline GSA in Portugal
AirAsia Cambodia Prepares for Take Off
Alex Schellenberger Joins Mandarin Oriental as Senior Vice President Brand
Ethiopian Airlines Opens E-Commerce Logistics Facility at Bole Addis Ababa Airport
Routes Americas 2024 Taking Place in Bogota, Colombia
Air Botswana Appoints APG as GSA in 16 Markets
Korean Air to Resume More Flights; Increase Services to Select Destinations
WestJet Appoints APG as Representative in South Korea; Airline to Launch YYC-ICN Flights in May
Courtyard by Marriott Hotel Opens in Fukui, Japan
Rolls-Royce to Expand Engine Build and Services Capacity in UK and Germany
United Airlines to Launch Los Angeles - Shanghai Flights; Increase LAX - HKG Service
Nine Exclusive HD Video Interviews from Routes Asia 2024 in Langkawi, Malaysia
AirAsia X Launches Direct Flights Between Kuala Lumpur and Almaty, Kazakhstan
Singapore Airlines Revamps Premium Economy Class with New Menu and Amenity Kit
Amadeus Completes Acquisition of Voxel
Minor to Rebrand NH Museum Quarter Hotel in Amsterdam, Netherlands
U-Tapao Airport (UTP) in Rayong / Pattaya, Thailand - HD Video Interview with Ampika Chadawong
IndiGo to Launch Flights Between Mumbai and Colombo, Sri Lanka
Perth Airport (PER) in Western Australia - HD Video Interview with Stephanie Juszkiewicz
China Airlines to Launch Flights Between Taipei and Seattle, USA
TUMI Launches Capsule Collection in Partnership with NEOM McLaren Extreme E Team
AirAsia Malaysia to Resume Flights Between Kuala Lumpur and Pattaya, Thailand
Thai Airways to Launch Flights from Bangkok to Colombo, Kochi and Perth
Munich Airport (MUC) in Bavaria, Germany - HD Video Interview with Michael Haeffner
Japan Tourism, World Expo 2025 and Japan Expo 2025 - HD Video Interview with Akira Watabe of JNTO
BBN Airlines Indonesia Receives Additional AOC from DGCA
Vietnam Airlines to Launch Flights from HAN and SGN to Munich Airport in Bavaria, Germany
Sabre Launches Booking Solution for New and Independent Travel Consultants
AirAsia Malaysia Launches A321neo Flights Between Kuala Lumpur and Perth, Australia
Saudi Arabia's Air Connectivity Program - HD Video Interview with Rashed Alshammari, Vice President Commercial
Lui Chong Chee to Succeed Bob Tan as Chairman of the Boards of CapitaLand Ascott Trust
Sabah Tourism Board - HD Video Interview with Julinus Jeffery Jimit, Chief Executive Officer
Berlin Airport (BER) - HD Video Interview with Simon Miller, Senior Manager Market Intelligence
IndiGo to Launch Flights Between Chandigarh and Dharamshala, India
Skyco Partners Airbus; Orders Six H175 Helicopters
Jumeirah Appoints Michael Grieve as Chief Brand Officer
Cam Ranh Airport (CXR) in Nha Trang, Vietnam - HD Video Interview with Le Thi Hong Minh
Mercure Langkawi Pantai Cenang - HD Video Interview with Hotel GM, Jasmine Keh
Courtyard by Marriott Phnom Penh Appoints Lenen Mar Porras as ADOSM
United Confirms Flights to Cebu, Philippines as Airline Expands Network
Jumeirah Soft Opens First Hotel in Saudi Arabia
IHG Signs Two Luxury Hotels in KAFD Riyadh, Saudi Arabia
Qatar Airways' NDC Content Now Available on Travelport+
Estelle Vassallo Moves to Italy as GM of Anantara Convento di Amalfi Grand Hotel
Aviation: International RPK Up 20.8% in January 2024
Amora Completes Refurbishment and Rebranding of Hotel in Brisbane, Australia
Scoot Unveils Embraer E190-E2 Routes
IndiGo to Launch Flights from Jagdalpur to Hyderabad and Raipur
Thailand Travel Mart Plus (TTM+) 2024 Opens Online Registration for Buyers and Sellers
9 Exclusive Video Interviews with VIPs at ASEAN Tourism Forum 2024 in Vientiane, Laos
8 NTO Press Conferences from the ASEAN Tourism Forum 2024 in Vientiane, Laos
13 Exclusive HD Video Interviews from World Travel Market 2023 in London, England
5 Exclusive HD Video Interviews from APG World Connect 2023 in Monaco, France
15 Exclusive HD Video Interviews from Routes World 2023 in Istanbul, Türkiye
Electric Airport Taxis at Almaty Airport in Kazakhstan - Video Interview with Co-Founder
Pictures from Miss International Queen 2023 Transgender Beauty Pageant in Pattaya, Thailand
Exclusive Video Interviews with 17 Miss International Queen 2023 Contestants
Living With One Eye - Six Years On by Steven Howard
HD Videos and Interviews
Podcasts from HD Video Interviews
RSS Feed - Travel Industry News
Ticker - Travel Industry News
Travel Industry News Archives
Travel Trade Shows
High-Res Picture Galleries
Travel News Asia - Latest Travel Industry News