Pegasus third-quarter profit beats expectations despite higher costs

Pegasus earned €205 million in net profit in the third quarter of 2026, exceeding the market’s €160 million expectation.

The airline’s revenue rose 19% from a year earlier to €1.3 billion, while it carried 13.1 million passengers, up 7%.

Total costs increased 25%, faster than revenue, as fuel prices were 85% higher than in the same quarter of 2025.

Pegasus used fuel hedges to limit the increase in its fuel expenses to 61%, and higher extra charges per passenger also supported revenue.

The airline’s profit fell 10% year on year, while its operating profit measure, EBITDA, rose 2% to €404 million.

For the first nine months of 2026, Pegasus recorded a €40 million net loss, compared with a €286 million profit in the same period last year.

The figures show that strong quarterly revenue and profit did not offset the losses from the first half of the year.