Turkey's Pegasus Airlines is considering setting up a subsidiary in Ukraine and may also increase its order for Airbus A321neo, Pegasus Airlines Sales and Network Planning Director Emre Pekesen has said in an interview with Forbes publication.

He said that the airline's top managers held negotiations with the Ukrainian infrastructure minister in Kyiv discussing the possible joint venture, which would be majority owned by Ukrainian investors and would fly under a Ukrainian operating license..

"Ukraine is really an under-served market. Only one carrier is very active, that’s UIA [Ukraine International Airlines] … It’s a huge country, the population is huge, and it’s in the middle of [a region with] expanding GDPs. So it’s an interesting country," he said.

Pekesen said that Ukraine is one of several countries on a 'shortlist' being drawn up by management.

Ukrainian Infrastructure Minister Volodymyr Omelyan indirectly confirmed the possible creation of a subsidiary by Pegasus Airlines.

"In 2018, the skies of Ukraine will be qualitatively different. Not just Pegasus," he wrote on his Facebook page.

Today, Tukey's airline subsidiary Atlasjet Ukraine has experience of operating in the country. It services only several flights from Ukrainian cities to Istanbul.

Pegasus is a leading low cost airline in Turkey offering economically priced point-to-point and transit flights.