Pegasus Airlines absorbs rising fuel costs while launching new Tripoli route

Pegasus Airlines chairman Mehmet Nane stated that the company has not yet passed increased jet fuel costs on to passengers. Despite a 70% surge in jet fuel expenditure during the first half of the year, the Turkish carrier has opted to absorb these costs to maintain passenger demand.

Nane noted that geopolitical tensions in the Middle East have exacerbated the situation, as the conversion ratio from crude oil to jet fuel effectively doubles the impact of oil price inflation on aviation. To mitigate these risks, Pegasus has hedged approximately 62% of its fuel exposure, a rate significantly higher than the global industry average of less than 50%.

In terms of network expansion, Pegasus Airlines will begin daily flights between Istanbul-Sabiha Gökçen and Tripoli, Libya, starting October 5. The route will utilize a Boeing 737-800 to serve Mitiga International Airport.