Pegasus Hava Tasimaciligi Anonim Sirketi (PGSUS) Q2 2026 earnings summary

Executive summary

• Report covers the six-month period ended 30 June 2026, prepared in accordance with IFRS and presented in Euro as the functional currency.

• The group operates as a single segment, focusing on low-cost airline services, with 9,863 employees as of 30 June 2026.

Financial highlights

• Revenue for 1H 2026 was €1,506.7M, nearly flat year-over-year (€1,497.7M in 1H 2025).

• Net loss for 1H 2026 was €244.7M, compared to a net profit of €59.8M in 1H 2025.

• Gross loss of €43.8M in 1H 2026, versus gross profit of €180.4M in 1H 2025.

• Operating loss widened to €126.9M from €30.6M loss in 1H 2025.

• Cash and cash equivalents at period end: €1,134.4M (up from €1,087.1M at 2025 year-end).

Outlook and guidance

• Management expects higher revenue and operating profit in Q3 and Q4 due to seasonality and summer demand.

• Geopolitical developments in the Middle East have led to temporary flight suspensions, with ongoing monitoring of operational and financial impacts.