BGC Partners: Pegasus 4Q19 Conference Call Highlights… Downward revision in 2020 guidance is likely due to the uncertainty in the coronavirus (COVID-19) outbreak.
The management established a cross-functional working group meeting daily to focus on the developments related to the virus. The company reduced all discretionary spending, focused on cutting personnel expenses, non-mandatory training expenses in order to compensate for the losses related to the virus. Fixed costs of Pegasus stand at around EUR50mn per month.Pegasus Hava Tasimaciligi is a low-cost airline group based in Turkey. Co. provides reasonably-priced transportation opportunities on point-to-point basis in short and medium range flight lines on its domestic and international network. Co. primarily provides transportation opportunities from its main hub in Istanbul Sabiha Gokcen International Airport, but also offers scheduled flights from other domestic hubs, primarily in Adana, Antalya and Izmir. Co.'s fleet is composed of 49 airplanes in total. Co.'s flight network consists of 76 locations (45 abroad and 31 domestic flight locations in 30 countries). Co. also provides cargo services and provides various training services.
BGC has been one of the major market players in Turkish OTC debt, FX and swaps markets since 1998.
We started offering corporate finance and investment banking services to our clients in 2013. We offer a complete range of financial services to help our clients achieve their goals. Our main areas of activity within investment banking are as follows:
- Mergers & Acquisitions
- Equity Capital Markets
- Debt Finance & Advisory
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