Turkish LCC Pegasus Airlines’ predicted rebound from 2016’s losses materialized in 2017, with the Istanbul-based carrier recording a TL501 million ($131.5 million) net profit, compared to a loss of TL136.2 million in the previous year. It achieved the result on revenues that increased 44% to TL5.3 billion. Pegasus, like other Turkish carriers, was hit by a series of geopolitical events in 2016, including a freeze in its inbound Russian tourism market following the shooting down ...

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