Pegasus 3Q net profit soars as tourists return to Turkey

The resurgence of the Turkish tourism industry helped LCC Pegasus Airlines’ 2017 third-quarter net profit more than double to TRY538.5 million ($139.6 million) from TRY246.2 million in 3Q 2016. Revenues for the quarter were up 50% to TRY2.1 billion. Pegasus noted it had achieved the higher profit figure despite higher fuel prices, adverse currency movements and inflation. It also said non-fuel CASK fell 11% in 3Q 2017 compared to a year previously. Turkey’s tourist sector ...