Pegasus Airlines to use dollar index to prevent losses


According to a source close to Pegasus Airlines, the airline will start applying dollar-indexed prices as of July, in order to minimize the losses in its balance of income and expenditures due to foreign exchange rates. While the Turkish lira hit a new record low on Monday, falling to 2.8094 against the dollar, the lira has depreciated by 15 percent against the dollar since the beginning of the year. Reuters has reported that 16-17 percent of Pegasus's income is currently dollar-based, while 56 percent of its expenditures are dollar-based, creating an imbalance. Pegasus had announced a loss of TL 74.3 million ($27.1 million) in the first quarter of this year, while the company's general financing expenses was around TL 52.6 million. Currently, Pegasus has flights to 90 locations, 60 of which are abroad. According to Pegasus' activity report, 1.65 million of the company's 4.52 million passengers were foreign passengers.