Pegasus Company (also known as P Coy) is the rigorous training and selection British military organisation based at the Infantry Training Centre, Catterick, North Yorkshire. P Coy run the 'pre-parachute selection' courses for trainee Parachute Regiment soldiers and officers as well as an "all-arms course" for Regular and Territorial Army (TA) troops. P Coy is also responsible for delivery of the TA Combat Infantryman's Course for candidates for the TA Parachute Battalion, 4 Para.
Pre-parachute selection must be undertaken by all army candidates for parachute training who have not already undergone a strenuous form of training, such as UK Special Forces.
Training in P Coy culminates in a series of eight tests undertaken over one week. For recruits directly joining the Parachute Regiment, the tests are attempted at week 21 of training, all-arms candidates attempt the tests after two and a half weeks of build-up training.