Pegasus Airlines Places Large Boeing 737-10 Order

FRANKFURT—Turkish LCC Pegasus Airlines’ order for up to 200 Boeing 737-10s is not only a significant win for Boeing and the yet-to-be-certified aircraft in Europe but also represents a major flip from an operator heavily focused on Airbus.

Pegasus said Dec. 19 it has signed for up to 200 737-10s, 100 of which are on firm order. Deliveries of the first 100 units will begin in 2028. According to CEO Gueliz Oztuerk, a decision on whether and how many of the remaining purchase options will be converted will be made in the coming years. “We continue to invest in our fleet in line with our growth targets in Turkey and globally, and to expand our network by launching new routes,” she said.

The carrier is Turkey’s second-largest airline after Turkish Airlines and its subsidiaries. Pegasus currently operates a fleet of 107 Airbus A320/320neo family aircraft, according to the Aviation Week Network Fleet Discovery database. The airline also still has nine 737-800s in its fleet. Their ages range from six to 12 years. Pegasus’ fleet overall is 4.5 years old on average.

The airline has 53 more A321neos on firm order which are due to be delivered between now and 2029.

Pegasus said it continues to work with both Boeing and Airbus. “This order strengthens the collaboration with Boeing, but the relationship with Airbus remains intact,” the airline said. “The aircraft deliveries with Airbus will continue until the end of 2029. Pegasus has been operating a dual fleet since 2013 and while doing this Pegasus has reached best in class globally for its cost base. We are confident that we will retain this position with our order of 737-10 aircraft.”

Pegasus launched flight operations in 1990 as a charter airline with two 737-400s in its fleet that later grew into a large 737-800 fleet. In 2005, the airline was acquired by ESAS Holding and turned into a scheduled airline following a low-cost concept. In 2012, the carrier placed a firm order for 75 A320neos, its first direct order from Airbus. As the airline took delivery of the A320neos and later A321neos, it shrunk the 737-800 fleet to just a small portion of what it once was.

The airline’s network is largely focused on Europe and the Middle East, connections being enabled at its main base, Istanbul’s Sabiha Goekcen airport. Pegasus also currently serves three destinations in Russia. At the recent CAPA Centre for Aviation Airline Leaders Summit in Belgrade, Oztuerk said that Pegasus is heavily competitive with Turkish Airlines, but the two are following “totally different business models. They have aircraft, we have aircraft. That’s it, nothing else is alike.” Growth areas include North Africa, Central Asia and the Middle East.

The airline has grown capacity by 70% over pre-pandemic levels, Oztuerk said.

The Pegasus order takes the number of firm commitments for the 737-10 to “more than 1,200,” Boeing said. Fleet Discovery listed 1,097 firm orders and 499 options for the -10, the largest version of the MAX family. Other large orders for the -10 include deals with United Airlines (157), Ryanair (150), American Airlines (115), Delta Air Lines (100) and Indian LCC Akasa Air (99).