AirAsia and Pegasus Launch First Codeshare

AirAsia has launched its first codeshare partnership with Pegasus Airlines to connect Southeast Asia and Europe through Istanbul. The agreement initially covers five European destinations and aims to expand across a combined network.

AirAsia planes are reflected in a glass wall at the Kuala Lumpur International Airport Terminal 2 (KLIA2), in Sepang, Malaysia, January 21, 2026. REUTERS/Hasnoor Hussain

AirAsia has launched its first codeshare partnership with Pegasus Airlines, connecting Southeast Asia to five European destinations via Istanbul. The alliance marks a strategic push into European travel markets distinct from the airline's planned Middle Eastern hub. Investors are tracking how the expanded network impacts regional connectivity and yields.

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