Pegasus Airline

[Capt MAC]

Hello guys, I will be there for the next 5 months. nyone here who have flown for this turkish company? I will be based in Antalya, any other bases?

[no sig]

Ýt was announce this week in Istanbul, that Pegasus Airlines will move into Turkish domestic scheduled services from November 1st with B737-800 aircraft based at Istanbul's Sahbia Gokcen Airport. They will continue their charter/wet lease business.

[MaxBlow]

Found on a Turkish aviation website (airporthaber.com) that Pegasus Airlines (Sabanci Group) bought Onurair for 132mio. Euros.

Together they'll operate 44 acft with 9300 seats and carried almost 10mio. passangers in 2006 on schedule and charter flights.

[Avman]

Just for the record, if my awful memory serves me right, is Pegasus not PGT?

[Jamesair]

Correct PGT is Pegasus

[eastern wiseguy]

The website gives them as pgs...whereas the ICAO is PGT:)

[Luke0705]

So If i booked Flights for next September ( I know its a Long way off) Will it change anything?

Thanks

[VOM1T]

Any ideas why ? I thought Pegasus was one of the better, more profitable turkish airlines.

[Ian Brooks]

There was one in Manchester this morning

Ian B

[VOM1T]

The scheduled airline failure insurance brokers web site say so:
Scheduled Airline Failure Insurance (SAFI) for Travel Agents (http://www.scheduledairlinefailure.co.uk/index.php?page=news.html)

[mathers_wales_uk]

What the website is saying is that they are not providing any failure insurance cover for these particular airlines mentioned on the list.

The Pegasus website is still trading therefore I would imagine the airline is still operational. Marcus Hearn the Insurance Brokers may believe the airline are not sound financially therefore withdrawing the airline failure insurance to new customers.

Viking are also mentioned on the website but is also still trading.

Along with this there are no mentions on the CAA website.

Unless there is sound evidence I suggest that rumours like this should cease unless correct evidence is provided. I do not wish to see passengers re-considering using these carriers therefore worsening their finances and eventually entering administration.

[Jamie2k9]

Does this mean that all chartered flights have been suspended

[mathers_wales_uk]

All flights are operating as normal plus no mention on the CAA website.

This news has come from an insurance broker who is no longer offering Airline Failure Insurance for Pegasus Airlines.

Both websites are working and taking bookings. Everything is as it was before the rumour.

[davidjohnson6]

Jamie2k9 - an insurer ceasing to provide cover to passengers for scheduled airline failure does not mean that the airline will cancel any flights at all - only that it's no longer to buy insurance against the airline doing so. Similiarly, someone living in an area which has experienced flooding every few years might find it very difficult to get home insurance - that does not mean that there will be a flood tomorrow.

The same insurer withdrew cover for passengers on Alitalia in August 2008 but reinstated it in January 2010. While Alitalia had a rather eventful period between August 2008 and Jan 2010 and was regularly the subject of news articles, they continued flying as a normal scheduled airline, and continued to satisfy all the usual EU and Italian regulations.

One might be able to infer that an insurer has more information than is publicly available about Pegasus and has cause for concern, but this does not imply that Pegasus cannot recover.

[VOM1T]

my original request stands, does anyone have any info why the broker has withdrawn airline failure insurance cover from what is apparently a successful airline?

if there isn't a reason that's sufficiently sound shouldn't the airline respond and challenge the action and limit the damage?

[niknak]

I suspect that its a combination of the volatility of the market, and the type of markets they are serving and the fact that the loss of perhaps just one major contract could stifle their cash flow to the extent that they stop trading.

PGT have been quite successful over the last few years, but so have several other airlines who served exactly the same type of customers as them and then lost it all overnight.

As DJ6 intimated, if your risk makes the insurers risk untenable, you won't get cover from anyone.

[Teevee]

Only time will tell with Pegasus, but it looks like they saw the CTA issue coming.

[RetiredSHRigger]

I suspect the insurance problem is connected to the recent collapse of Goldtrail Holidays who were large scale user of Pegasus

[mathers_wales_uk]

After fear of potential passengers getting the wrong end of the stick and having a negative effect of bookings for both Pegasus and Viking, I have been in contact with Marcus Hearn and ask them what is their reason for removing the failure cover for both airlines.

In a statement to the Wales Air Network a spokeswoman had said "The decision to take Pegasus and Viking Airlines off cover was purely an underwriting decision made by the respective insurer and in no way should be taken as an indication that these airlines are entering into administration or that they are in any kind of financial difficulty.”

If you would like to view the full article click here (http://walesairnetwork.wordpress.com/2010/08/10/pegasus-airlines-viking-airlines-are-not-in-financial-trouble/)