Pegasus Airlines in the red in 2016 despite revenue growth

Pegasus Airlines revenue up 6% - financial highlights for 12 months ended 31-Dec-2016:

• Revenue: TRY3707 million (EUR1110 million), +6.3% year-on-year;
• • Ancillary: TRY815.6 million (EUR244.4 million), +23.1%;
• Costs: TRY3845 million (EUR1151 million), +16.1%;
• • Fuel: TRY985.8 million (EUR295.1 million), -11.9%;
  • Labour: TRY645.2 million (EUR193.1 million), +45.8%;
• Operating profit (loss): (TRY106.0 million) (EUR31.7 million), compared to a profit of TRY269.4 million (EUR89.4 million) in p-c-p;
• Net profit (loss): (TRY136.2 million) (EUR40.8 million), compared to a profit of TRY111.9 million (EUR37.1 million) in p-c-p;
• Passengers: 24.1 million, +8.1%;
• Load factor: 78.6%, -0.5ppt;
• Average stage length: 990km, +0.3%;
• Total assets: TRY5618 million (EUR1682 million);
• Cash and cash equivalents: TRY692.3 million (EUR207.2 million);
• Total liabilities: TRY4049 million (EUR1212 million). [more - original PR]

*Based on the average conversion rate at TRY1 = EUR0.299316 for 2016
*Based on the average conversion rate at TRY1 = EUR0.0.332063 for 2015