High quality global journalism requires investment. Please share this article with others using the link below, do not cut & paste the article. See our Ts&Cs and Copyright Policy for more detail. Email ftsales.support@ft.com to buy additional rights. Airlines may not have been the best performing stocks over the past few years but they can still generate excitement if they produce a successful business model in a tight market.
One example is Turkish budget carrier Pegasus, which this week said it had applied to the Istanbul Stock Exchange (IMKB) to launch an initial public offering this year.