Private airline Pegasus plans to go public

Pegasus, Turkey’s largest private airline company says that it has plans to sell its shares to the public.

The company applied to the Capital Markets Board (SPK) for a public offering on Feb. 22 and shares are expected to be on offer either this year or next year.

The company initiated research in 2011 with the intention of setting up an initial public offering (IPO) earlier but had to postpone the plans due to waning investor interest in capital markets during the global financial crisis.

Pegasus Airlines signed the biggest aircraft deal in Turkish aviation history last December, ordering 100 Airbus jets worth $12 billion in an agreement that found favour with government officials. Established in 1990, and bought by Esas Holding in 2005, Pegasus has grown its fleet from just two aircraft to more than 40 mostly Boeing 737-800s over the past two decades. The airline serves 62 destinations in 26 countries.

Company CEO Sertac Haybat stressed that Pegasus Airlines had flown 49 million passengers since launching.

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