Dear Stakeholders and Esteemed Guests,
At Pegasus Airlines, we embarked on our journey on November 1, 2005, with the belief that “air travel should be accessible to everyone”. As the first airline in Türkiye to successfully implement the 'low-cost airline' model widely used around the world, we offer our guests affordable airfares while giving them the freedom to shape their travel experience according to their needs with additional products and services.
This significant step we took to transform aviation in Türkiye has grown exponentially since our inception. In 2005, we were a local airline operating scheduled flights to six domestic destinations with 14 aircraft. By 2023, the 100th anniversary of our Republic, we successfully reached our target of surpassing 100 aircraft. By the end of 2023, with an impressive fleet of 110 aircraft, we had successfully transformed into Türkiye's pioneering low-cost airline, operating flights to 134 destinations in 50 countries. In terms of cost structure, operational, and financial performance, we not only led the way among low-cost airlines but all airlines worldwide in 2022 and 2023. While tirelessly working towards maintaining operational excellence for nearly 20 years, we have remained at the forefront of the global digital transformation in our sector, advocating for inclusivity and diversity, as well as supporting the aviation industry's sustainability goals.
Since initiating our digital transformation in 2018, we have offered digital technologies and unique innovations to facilitate air travel with a guest experience-focused approach. We closely follow technological advancements and continue to set numerous firsts in our industry. In 2023, we crowned these efforts with our investment in establishing the Technology Innovation Centre established in Silicon Valley under the name: 'Innovation Lab.'
We have made integrating sustainability into our corporate culture, one of our strategic priorities. In accordance with the motto: "Moving Towards a Sustainable Future," we are undertaking numerous initiatives in three main areas. First, we have embarked on our journey towards achieving our 2050 Net Zero Carbon Emission goal for a cleaner future. Second, we launched our 'Harmony' program, focusing on gender equality for a more equitable and diverse future. Finally, with #HereForYou, we have promoted good governance practices that positively impact our entire value chain to have a better future together.
As a company that’s highly sensitive to inclusivity and diversity, we conduct particularly effective work especially in the sphere of gender balance. We are immensely proud to work with female employees who leave their mark in every aspect of our operations, from piloting to senior management. As a company tradition, we aptly name new aircraft joining our fleet after the daughters of our employees. We are proud to be the first airline worldwide to join the UN Women's Empowerment Principles platform and one of the first airlines in the world to sign IATA's '25by2025' initiative.
Our commitment to realising 'Net Zero Carbon Emissions by 2050' and our interim carbon emission reduction target for 2030, which is set to reinforce this commitment, represent the fundamental milestones of our roadmap when it comes to environmental goals. Accordingly, we aim to achieve a 20% reduction in our flight-related carbon (CO2) emissions per revenue passenger kilometre (RPK) compared to 2019 levels by 2030. We are working to increase the use of sustainable aviation fuel (SAF) produced from low-carbon, environmentally friendly, and sustainable sources.
Our pioneering digital transformation efforts, fleet transformation with next-generation aircraft, continuously expanding flight network, investments in technology and people, support for aviation's sustainability goals, as well as our advocacy for inclusivity and diversity will continue to be the pillars of our sustained success.
As always, this year and in the coming years, we will continue to work diligently with all our strength on behalf of our country, industry, stakeholders, and guests.
Yours sincerely,
Mehmet T. Nane
Chair of the Board