Pegasus Hava Tasimaciligi Anonim Sirketi (PGSUS) Q1 2026 earnings summary

Executive summary

• Reported a net loss of EUR 153.1 million for Q1 2026, compared to a net loss of EUR 61.9 million in Q1 2025.

• Revenue increased to EUR 641.9 million, up 3.3% year-over-year.

• Cost of sales rose to EUR 703.7 million, outpacing revenue growth and resulting in a gross loss.

• Total assets reached EUR 8.25 billion, with equity at EUR 2.27 billion as of March 31, 2026.

Financial highlights

• Revenue: EUR 641.9 million (Q1 2026), up from EUR 621.7 million (Q1 2025).

• Net loss: EUR 153.1 million, widened from EUR 61.9 million loss year-over-year.

• Gross loss: EUR 61.8 million, compared to EUR 14.1 million gross loss in Q1 2025.

• Operating loss: EUR 93.0 million, similar to prior year.

• Cash and cash equivalents: EUR 1.11 billion at period end.

Outlook and guidance

• Management prepared financials on a going concern basis, expecting to meet obligations and utilize assets effectively.

• No changes in accounting estimates or significant impact from new standards anticipated.