Turkish low-cost carrier (LCC) Pegasus Airlines is undertaking a major cost reduction program as it battles to offset the continuing effect of slumping inbound tourist traffic to the nation. The LCC is revisiting existing contracts, reducing staff numbers and taking a careful look at marketing activities as it focuses on reducing costs. Within the airline’s overall plan for a major fleet refresh, the company is selling those aircraft that become due for their first engine overhauls. ...

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