Pegasus Airlines
Turkey · SUNTURK · Active
Airline Identity
History
Pegasus Airlines was founded on 1 December 1989 as a joint venture between Turkish conglomerates Net Holding and Silkar Holding and Ireland's Aer Lingus, launching charter flights on 15 April 1990 with two Boeing 737-400s. Istanbul-based Yapı Kredi bank took over the shareholding in 1994, before ESAS Holding, chaired by Ali Sabancı, acquired the airline in January 2005 and relaunched it as Turkey's first low-cost carrier. Pegasus listed 34.5% of its shares on Borsa Istanbul in an April 2013 IPO and grew into the country's largest low-cost operator, building a young narrowbody fleet around the Airbus A320/A321neo family. In December 2025 Pegasus agreed to acquire Czech carrier Smartwings and its subsidiary Czech Airlines for roughly €154 million, its first major international acquisition and a move into Central European markets.
Current Operations
Pegasus operates a fleet mixing Airbus A320neo and A321neo aircraft with older Boeing 737-800s, serving around 148 destinations in more than 50 countries across Europe, Asia, the Middle East and North Africa. Its main base is Istanbul Sabiha Gökçen Airport, complemented by secondary bases at Ankara, Antalya and Izmir. In late 2024 the airline placed a major order for up to 200 Boeing 737 MAX 10 aircraft to renew and expand its fleet through the 2030s. Pegasus remains publicly traded on Borsa Istanbul under ESAS Holding's control and, despite scrutiny over flight delays and a significant 2022 data breach, is pursuing international growth through its pending Smartwings/Czech Airlines acquisition.
Last verified 2026-08-22· Source: airline public disclosures, company press releases & aviation-industry reporting.