I have been following this post item for months, and flying myself for Pegasus (for some more weeks), it is time to write...
Jannick, your mentioning of "weirdo's" is not a very fair one, come to Turkey, try to live and work there, especially at Pegasus, and you might find yourself a weirdo as well after some time. So do not blame the guys from the last course...at least not everybody of them.
About Pegasus, I will try to speak honnest. The type rating training is not the best you can find, but Pegasus is learning as well, so next courses might be better and more professional.
Like "not even peanuts" mentioned before, it is business for Pegasus. For myself, they have sticked to the contact, however they have indeed kicked out people after 200 hours who already signed the employment contract. Pegasus told them the reason was "not achieving the pgs standard", for some of them this may be correct but the main reason is that pgs had too many pilots for the low touristic season in 2006.
So I still agree joining the tr course and line training program at pgs might be a good decision, BUT be aware that you might end up with alot of hope to fly at least 500 hours on the B737 (which you might need to be succesful in applications at other companies except Ryanair and Easyjet) and eventually be kicked out after 200 hours....or even before that.
Personally a friend of mine ended up like this, having spent 32500 euros to pgs for tr course and 200 hours line training, not having earned 1 eurocent during the indeed very long time (6 months or more) it took to gather the 200 hours (pgs estimated the line training time to max 3 months) and after 200 hours he was not issued the employment contract. He is now jobless and waiting for easyjet and ryanair which can take a long time due to the high number of candidates. In the meantime his B737/300-900 rating is almost expiring....
So make up your mind and filter the news from the above posts... there is mostly thruth in it. Pegasus keeps it promises mostly, for some pilots it turned out well, for others it became a professional and financial nightmare, and the reason was not always "not achieving the pegasus standards". For me it turned out well, I got the employment contract after the training contract, but after a long time of not knowing any decision, my contract gets bot extended for another year. Some pilots got it, others like me did not, however I am lucky to have signed a contract with another company in my own country, so it turned out well for me, but it could have been very bad as well...
If you are desperate to get a first jet job and your financial situation allows it, pgs might be a good choice. If your financial situation is already not so colourful, be very aware....
Happy landings