Türkiye's Pegasus to Begin work on New Plane Order for Delivery beyond 2029

Officials work on the wreckage of a plane operated by Pegasus Airlines after it skidded Wednesday off the runway at Istanbul’s Sabiha Gokcen Airport, in Istanbul, Thursday, Feb. 6, 2020. (Emrah Gurel/Associated Press)
Officials work on the wreckage of a plane operated by Pegasus Airlines after it skidded Wednesday off the runway at Istanbul’s Sabiha Gokcen Airport, in Istanbul, Thursday, Feb. 6, 2020. (Emrah Gurel/Associated Press)
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Türkiye's Pegasus to Begin work on New Plane Order for Delivery beyond 2029

Officials work on the wreckage of a plane operated by Pegasus Airlines after it skidded Wednesday off the runway at Istanbul’s Sabiha Gokcen Airport, in Istanbul, Thursday, Feb. 6, 2020. (Emrah Gurel/Associated Press)
Officials work on the wreckage of a plane operated by Pegasus Airlines after it skidded Wednesday off the runway at Istanbul’s Sabiha Gokcen Airport, in Istanbul, Thursday, Feb. 6, 2020. (Emrah Gurel/Associated Press)

Türkiye Pegasus Airlines will in the coming months begin work on its next plane order as it looks to continue its fast-paced growth into the next decade, the budget carrier's CEO told Reuters on Sunday.

Pegasus, which has seen a rapid recovery in travel after the pandemic, placed an order for 36 Airbus A321neo planes in July 2023, taking its total orders since 2012 to 150.

Sixteen will be delivered this year and the remaining 52 by the end of 2029, Guliz Ozturk said in an interview.

Production slots at the two dominant planemakers Airbus and Boeing are sold out for many years, resulting in long wait times for airlines wishing to replace and grow their fleets.

"Beyond 2029, as long we want to grow - and we want to grow, the demand is there - we have to go out with a new order," Ozturk said, adding that there are no specific decisions or studies yet.

Safety concerns at US planemaker Boeing and output delays at Airbus are forcing airlines to plan new aircraft orders well in advance to keep pace with the rapid rebound in air travel since the pandemic.

Pegasus has a mixed Boeing and Airbus fleet of 105 aircraft, but the fleet is dominated by European planemaker Airbus.

When asked whether the airline's dual fleet strategy has worked well, Ozturk said that while it may seem simpler to run a single fleet, "when you have delivery delays, it's good that you have the two manufacturers in the picture".

Pegasus has not faced any significant delays in deliveries from Airbus, she added.

For Ozturk, the biggest challenge is keeping pace with demand while managing costs at a time when geopolitical tensions and wars result in higher fuel prices and add to inflation.

She said despite the disruptions, the airline aims to achieve an operating profit margin of 28% to 30% in 2024.



Saudi Mining Licenses Reach 2,401 by End of 2024

Saudi Mining Licenses Reach 2,401 by End of 2024
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Saudi Mining Licenses Reach 2,401 by End of 2024

Saudi Mining Licenses Reach 2,401 by End of 2024

The Saudi Ministry of Industry and Mineral Resources announced on Sunday that the number of valid mining licenses in the Kingdom has reached 2,401 by the end of 2024.

The licenses cover various categories, including mining, exploration, reconnaissance, building materials quarries, and small mine operations.

According to the 2024 Mining Sector Indicators Bulletin, issued by the National Industrial and Mining Information Center, the majority of these licenses were granted for building materials quarries (1,481), followed by exploration (642), mining and small mining exploitation (215), reconnaissance (41), and surplus mineral ore extraction (22).

The bulletin serves as a critical tool for monitoring developments in the mining sector, tracking both existing and newly issued licenses across various regions of the Kingdom. By boosting transparency and providing accurate data, the initiative supports investors and decision-makers in making informed choices that contribute to the sector’s growth and sustainability.