Pegasus Airlines was established in 1989 as a joint venture between Aer Lingus, Silkar Yatirim and Net Holding, head office being in Istanbul. Since its first commercial flight in May 1990, from a fleet of two aircraft, airline has grown to a 15 aircraft fleet, which includes the very latest new generation Boeing 737-800s. Thereafter, in 1993, control of the company was transferred to the Turkish bank Yapi Kredi. As of 26th January 2005

In its proud track record of 16 years, Pegasus Airlines has become one of the leading charter airlines of Turkey . With a fleet of 10 Boeing 737-800 and 2 Boeing 737-400 aircraft, 3 Boeing 737-500 airline operates charter flights, from Turkey to 99 destinations in 17 countries. Alongside the charter operations, Pegasus Airlines provides wet lease to the airlines in need of extra capacity. Pegasus operations have been certified by the Turkish Civil Aviation Authority as being in compliance with JAR-145, JAR-OPS 1 and JAR- FCL. Pegasus constantly strives to maintain the highest operational standards to ensure that its passengers have safe, comfortable and on-time flights.

In January 2005, ESAS Holding took over Pegasus Airlines entirely. With the dynamism inspired by the new ownership, a self-vitalization process in line with the expectations of our valued customers was initiated. As a result of these efforts and in response to our customers' often expressed wishes, Pegasus Airlines scheduled flights on domestic routes as of November 1st, 2005 and on international routes as of December 20th. Pegasus has 15 international and 16 domestic destinations.

Pegasus Airlines Head of Training commenced "Flight Academy Type Rating and Line Training" for non-contracted pilots in August 2005. Since then, the Academy generated many successful graduates who are currently employed by respectable airlines.