Pegasus Airlines received an award in the “Risk Management and Resilience” category at the EuroFinance Treasury Excellence Awards 2022.

(LONDON – 25 August 2022) Pegasus Airlines received an award in the “Risk Management and Resilience” category at the annual EuroFinance Treasury Excellence Awards, organized by EuroFinance. The “Risk Management and Resilience” Award recognises astute risk management actions by treasury that protected staff and enabled their companies to survive.

Commenting on the award, Barbaros Kubatoğlu, Chief Financial Officer of Pegasus Airlines, said: “Aviation is one of the sectors most affected by the pandemic. At the height of the pandemic, there were months when we had to halt all our flights due to travel restrictions. During this challenging period, as we managed our treasury operations, our focus areas were the protection of our equity and the effective management of our cash flow in case the pandemic continued. We believe that we successfully navigated through this period by managing our treasury position on a day-to-day basis. We continually updated our hedging policy, especially by closely monitoring brent oil prices. In order to keep our cash position under control and meet our funding needs, we used loans, issued USD-denominated Eurobonds and TL-denominated bonds.” And continued: “All of this was accomplished in one year and with our balance sheet results nearing 2019 year-end figures, we are now an airline that came out of the pandemic stronger. This significant award that we receive from EuroFinance is a great source of pride for us…”

About Pegasus Airlines

Pegasus Airlines was launched in 1990, and adopted a low-cost business model in 2005, upon its acquisition by ESAS Holding. As Turkey’s leading low-cost carrier, Pegasus offers its guests the opportunity to travel affordably and on young aircraft under the auspices of its low-cost airline model with the belief that “everyone has the right to fly”.  Since 2018, Pegasus has adopted the motto “Turkey’s Digital Airline” and operates a network of 125 destinations in 47 countries, including 36 domestic destinations in Turkey and 89 international destinations; it operates connecting flights between Turkey and Europe, North Africa, the Middle East, Russia, and Central Asia via Istanbul Sabiha Gökçen Airport in Turkey. With its approach that focuses on guest experience, Pegasus continues to offer digital technologies and unique innovations to enhance the travel experience. Pegasus manages its operations and activities with a “sustainable environment” approach.