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Pegasus Airlines strengthened its recovery in the first quarter of this year, lifting passenger numbers by 18% as holidaymakers in Western Europe and Russia rekindled their love affair with Turkish resorts.
The positive result comes just two years after the low-cost carrier sunk to a rare loss amid a perfect storm of Daesh terror attacks, a failed military coup and a diplomatic row with Russia. Fears of a lengthy downturn were dispelled by last year’s profit, and with demand still growing chief executive Mehmet Nane is in bullish mood about the airline’s prospects.
Despite his newfound optimism, however, the challenges facing developing nations in general and Turkey in particular loom large at Pegasus...