In its 2016 annual report, Pegasus Airlines announced that it could sell 10 planes for this year, announcing the sale of its 7 planes.
Here is the description of the sale of the company to the stock market:
2 With the two separate agreements between our company and Air Lease Corporation on 14/02/2017 and 17/03/2017, a total of seven Boeing 737-800NG aircraft, three and four, respectively, of the Company’s assets, totaled USD 178.700.000 (17 / Calculated as TL 644.356.460 over the CBRT’s US Dollar Rate as of 03/2017) will be transferred to Air Lease Corporation for the sale price. With the transaction dated 17/03/2017, special condition explanation about the sale transactions is made in line with the Capital Market Board Special Situations Guide since it is determined that the Company has more than 10% of the total assets included in the Financial Tables of the Company as of 31.12.2016. One of the main objectives of the sale is to accelerate the change of the portfolio which optimizes fuel usage within the scope of Airbus Order signed in 2012. Within this scope, our Company is acting in line with the aim of bringing the planned Airbus deliveries forward. The financing of all of the aircraft subject to sale is provided by financial leasing and the sale price will be partially used to close the outstanding balance. The increased amount will be used to meet our company’s new investments and cash needs for operations. It is aimed to decrease the Company’s average fleet age and to improve aircraft operating costs by increasing the share of flights of Airbus 320 / 321neo aircraft which will be delivered to Airbus Orders in 2012 and which will continue in 2017 and thereafter, which are already in the fleet of our Company. It is expected that all of the aircraft sales transactions will be realized by 31/10/2017.