Turkey's low-cost carrier revenue up 55 pct in 2018

The Turkish low-cost carrier Pegasus Airlines earned 8.3 billion liras ($1.6 billion) total revenue in 2018, up 55 percent from a year earlier, a statement said on Tuesday.

The net profit of the carrier reached 507 million Turkish liras ($96 million) last year, said the statement by Pegasus Airlines.

Mehmet Nane, the general manager of the company, said the airline managed to keep “profitability at the same level with previous year despite rising oil prices”.

Pegasus Airlines carried 30 million passengers -- including 17.7 million on domestic routes and 12.3 million on international routes -- in 2018, rising 8 percent year-on-year.

The number of passengers carried on domestic and international flights increased 5 percent and 12 percent, respectively.

Praising Turkey's tourism figures last year, Nane said: "Tourism made a great contribution in 2018. We project this trend to continue this year.

"Thus, we will grow in 2019 as well."

Nane added that the company will continue its investments “without a pause” and add more aircraft to its fleet this year.

Entering into aviation sector in 1990, Pegasus Airlines became the leader low-cost carrier in the country after it was sold to Turkey's Esas Holding in 2005.

Pegasus Airlines flies to 105 destinations -- 35 domestic and 70 international -- in 40 countries by the end of 2018.