Money Buzz! Europa

Tag: Aegean

  • Aegean net losses after tax at €158.8m in the first half of 2020

    Aegean net losses after tax at €158.8m in the first half of 2020

    Aegean total number of flights operated fell by 82% in the second quarter (with a reduction of 95% and 92% for the months of April and May respectively), while passenger traffic fell 92%.

    Revenue for the second quarter stood at just €40.4m, 88% down compared to the second quarter of 2019, i.e. a decline in revenue of €307m.

    Pre-tax losses (excluding extraordinary) stood at €58.7m against pretax profit of €31.5m in the respective 2019 period. 

    As a result, overall first half 2020 revenue fell by 64% to €187.4m while underlying pre-tax losses stood at €132.3m.

    The results were burdened by extraordinary losses of €68.5m from ineffective hedging, mainly due to the large portion of fuel hedging contracts for the duration of 2020 being rendered ineffective by the significant reduction in flight activity.

    Net losses after tax stood at €158.8m in the first half compared to losses of €13m in the respective period last year.

  • Aegean Airlines is the most attractive employer in Greece

    Aegean Airlines is the most attractive employer in Greece

    Aegean Airlines is the most attractive employer in Greece, as it found itself in the top of the Randstad ranking, climbing to the top from third place on last year’s list.

    Naftemporiki.gr also noted that the top 10 most attractive employers in Greece for 2020 are:

    • Aegean Airlines
    • Hellenic Aviation Industry
    • Sklavenitis
    • Ion
    • Hellenic Telecommunications Organization (OTE)
    • Intralot
    • Bank of Greece
    • Pharmathen
    • Papadopoulou
    • Independent Electricity Transmission Manager (ADMIE)

    The Randstad Employer Brand survey, the most comprehensive, independent and detailed survey of the employer’s image worldwide, was conducted on a sample of 6,136 companies with over 185,000 participants in 33 countries.

    For Greece, the survey is conducted for the third consecutive year evaluating a sample of the 150 largest companies, involving 3,504 people, including Greek students, workers and unemployed people aged 18 to 65.

  • Aegean expects to operate 1000 flights per week by July 15th

    Aegean expects to operate 1000 flights per week by July 15th

    Greek airline Aegean is announcing further adjustments in its network for June, July and August 2020. 

    From June 15th onwards, the frequencies of domestic flights to and from all airports in Greece, as well as international destinations and frequencies to and from Athens and Thessaloniki, will be gradually increasing.

    As of July 1st, and subject to further ease of travel restrictions, the summer network, both in terms of frequencies and number of destinations, will be resumed.

    The entire 31 destinations domestic network that recurrently operated throughout the lockdown, will be also increased progressively, in order to facilitate the connectivity of island destinations with the international network.

    By July 15th, Aegean will fly to 42 international destinations from Athens and 7 destinations from Thessaloniki.

    By June 15th, it will be further announced the direct international network from Aegean’s hubs in Heraklion, Rhodes and Chania with flights starting early in July. 

    Aegean expects, that by July 15th, about 1,000 flights will be operated per week

    Aegean expects, that by July 15th, about 1,000 flights will be operated per week, while by the end of August the number of operating flights, will reach 1,600.

    As a result, the total network at its peak, is estimated to be smaller by 50% from the initial planning before the Covid-19 pandemic.