Turkish low-cost carrier (LCC) Pegasus earned a 2015 net profit of TL291.5 million ($111.5 million), considerably improved over 2014’s figure of TL15.7 million. Full-year revenue was TL3.48 billion, up from TL3.08 billion a year previously. Much of the improved profits came from favorable fluctuations in the currency exchange rate and cash flow hedging compared to 2014. The profit from operations was TL111.8, which was actually a decrease on 2014’s figure of TL143.3 ...

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