Pegasus Airlines has announced a US$149.9 million tap issuance of its existing 2031 note series, consolidating the new tranche into the September 2024 original. The Turkish low-cost carrier, headquartered in Istanbul, will apply identical coupon rates, maturity dates, and terms to this corporate finance transaction. This tap mechanism allows operators to raise capital efficiently without negotiating fresh debt agreements, signaling sustained market confidence in the airline’s credit profile following a passenger volume rebound. The proceeds likely support operational liquidity or strategic fleet expansion as the operator reviews flight frequencies between Turkey and Europe. While the specific use of proceeds remains unconfirmed, the transaction reinforces Pegasus Airlines’ access to capital markets at scale, demonstrating financial stability amid sector-wide liquidity management challenges.