airberlin Turkey is a special charter, low-cost carrier, partnership between Germany's airberlin and Turkey's Pegasus Airlines which commenced operations on 1-Nov-2011. The airline operates 31 weekly flights between Antalya in Turkey and 14 German cities including Berlin, Frankfurt, Hamburg and Munich during the Northern Winter schedule. airberlin Turkey sourced its fleet of 737-800 aircraft from parent airberlin and wears a modified airberlin livery with the word 'Turkey' accompanying the regular airberlin script.
Fleet: 2 x B737-800, 4 more by Northern Summer 2012
Location of airberlin Turkey main hub (Antalya Airport)
LCCs will continue to evolve into hybrids of the original core model. CAPA and OAG consider airberlin Turkey fits the LCC profile and it is included in our reporting on this basis. Please note: when reporting for an airline is changed from or to LCC the historical data is not affected and it can lead to a distortion in the current reported data. Contact us if you have any queries.
2 total articles
2 total articles
Shares in Turkish LCC Pegasus Airlines commenced trading on 26-Apr-2013 after an IPO that raised TRY649 million (EUR277 million). The IPO prospectus reveals that Pegasus is not only Europe’s second most profitable airline (based on 2012 operating margin), but also one of its fastest growing (2008-2013 CAGR in passenger numbers of 33% p.a.). Its unit costs (CASK) place it with Wizz Air and Ryanair as one of Europe’s three truly low-cost carriers.
Although Turkey was not immune to recession in 2009, air traffic continued to grow and Pegasus is still on a structural volume growth path not led by the economic cycle. Such a path does not guarantee earnings growth and Pegasus made a loss in 2011. Nevertheless, its low costs and strong presence in fast-growing Turkey and Central/Eastern Europe, should allow it to grow earnings in the future. Indeed, its breakeven operating result for the core business for the traditionally loss-making first quarter (reported 09-May-2013), with RASK up sharply and CASK falling, augurs well for FY2013.
Turkey’s second largest carrier, Pegasus Airlines, is steadily expanding its network with a focus on nearby Eastern Europe as demand in the Turkish market continues to grow rapidly. Based at Sabiha Gökçen International Airport in Istanbul, the privately-owned airline operates an extensive European and domestic Turkish network while also offering some services to the Middle East and Central Asia. Until recently Pegasus’ focus has been primarily on its domestic Turkish and international routes to Western Europe, but this is beginning to change. Eastern Europe is becoming the airline’s main focus with a number of new destinations added in recent months.