Low-cost Turkish carrier Pegasus Airlines was awarded two prizes for the youngest fleet, delivered by data service company ch-aviation, the company announced Monday.

The airline has received the World's 4th Youngest Aircraft Fleet Award in the "100+ aircraft in their fleet" category and Europe's 4th Youngest Aircraft Fleet Award by leading airline intelligence provider ch-aviation, it said in a statement.

The awards recognize the efforts of budget airlines in maintaining a modern fleet, contributing to fuel efficiency and sustainability.

Pegasus Airlines flies to 136 destinations in 50 countries with its fleet of 108 aircraft at an average age of 4.53 years.

Güliz Öztürk, the company's CEO, whose views were included in the statement, said: "Our continued investment in younger aircraft is a core part of our fleet strategy, bringing increased fuel efficiency and supporting our sustainability objectives."

Ch-aviation established the Youngest Aircraft Fleet Award to revere airlines worldwide who understand the value and necessity of investing in their fleets, introducing new-generation aircraft that considerably reduce carbon dioxide emissions in the aviation industry and improve fuel economy, its CEO Thomas Jaeger said.

"Sustainability represents a significant challenge and will continue to require giant leaps forward for the aviation industry. Hence, the ch-aviation has honored them with this award that celebrates their effort."

Meanwhile, India's IndiGo won the World's Youngest Aircraft Fleet Award in the "100+ aircraft in their fleet" category, operating 344 aircraft with an average age of 3.94 years.