Pegasus Airlines (PGSUS) 1Q26 Financial Results
Tacirler Investment
We evaluate Pegasus Airlines’s 1Q26 financial results as neutral overall, with significant weakness on the operational side but no meaningful deviation from our expectations. Considering the recent weak share price performance, rising geopolitical risks, upward pressure on energy costs, and the current uncertainty environment, we revise our 12-month target price to TL 252 from TL 300 while maintaining our Buy recommendation.