Page 68 - TURKRptNov19

TAV Havalimanları Holding, Turkey’s largest airport operator, operates Antalya, Ankara Esenboga, Izmir Adnan Menderes, Milas Bodrum and Gazipasa Alanya airports in Turkey as well as Tbilisi and Batumi airports in Georgia, Monastir and Enfidha-Hammamet airports in Tunisia and Skopje and Ohrid airports in Macedonia. Madinah Airport in Saudi Arabia and Zagreb Airport in Croatia are also operated by TAV Airports. TAV Airports is also active in other areas of airport operations including duty free, food and beverage, ground handling, IT, security and operation services.
The company is targeting serving 90mn to 94mn passengers this year. Aeroports de Paris Group owns 46.1% of TAV.
● Pegasus
Ebitda margin was up by 12.5pp to 32.1% in Q2 and by 10.2pp to 24.8% in H1, both record high figures.
Pegasus targeted an Ebitda margin of 22.5-23.5% this year, it said in January. In June, the company revised its Ebitda margin target to 25.5-26.5%.
Pegasus managed to increase the number of passengers it served by 7.7% in 2018 to a total of 30mn people. The domestic passenger volume rose 4.8% y/y to 17.7mn while the international passenger volume moved up 12% y/y to 11.7mn.
Pegasus operated charter flights since 1991. Following its acquisition by Esas Holding at the beginning of 2005, Pegasus changed its business model, introducing a low-cost network carrier model for the first time in Turkey. In 2013, the company held an initial public offering (IPO) to sell a 34.53% stake.
Pegasus has a 49% stake in Kyrgyzstan’s Air Manas.
68​ TURKEY Country Report​ November 2019 ​ ​www.intellinews.com