Pegasus Airlines posts $36.1 million loss for 2016

Credit: Rob Finlayson

Turkish low-cost carrier (LCC) Pegasus Airlines dropped into the red in 2016, recording a net loss of TL136.2 million ($36.1 million), sharply reversed from a profit of TL111.9 million in 2015. Revenue for the year rose 6% year-over-year (YOY) to TL3.7 billion. The loss had been expected, but in...

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