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Tag: Aegean Airlines

  • Aegean Airlines reports 28.3 million euros losses in Q3 2020

    Aegean Airlines reports 28.3 million euros losses in Q3 2020

    Aegean Airlines reported net losses after tax of 28.3 million euros in the third quarter of 2020 after profits of 90.2 million euros in the same period last year.

    The partial lifting of travel restrictions across Europe as of July allowed the gradual resumption of international flights.

    Nevertheless, several countries remained inaccessible, demand was weak due to the pandemic while the lack of coordination on travel protocols weighed on the restart efforts.

    Passenger traffic, 62% lower than last year

    During the third quarter of 2020, Aegean operated 49% less flights than in 2019 while passenger traffic was 62% lower than last year.

    Load factors fell to 65,7% from 87,7%. Even under these restrictions the company carried 2 mil. passengers in the quarter, flying to 78 international and domestic destinations. 

    Revenue during the third quarter stood at €155,1 mil. from €512,5 mil. in 2019.

    Overall in the Nine-month period revenue reached €342,5 mil. from €1,031 bn in 2019, while passenger traffic reached 4,4 mil. passengers.

    Net losses after tax for the Nine-Month period totaled €187,1 mil. from net earnings of €77,1 mil. in the respective period last year. 

  • 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.

  • Greece: Passenger air traffic dropped by 93% in June 2020

    Greece: Passenger air traffic dropped by 93% in June 2020

    Latest Greek Civil Aviation Authority data show a 93 percent drop in total passenger traffic going through local airports in June 2020, compared to the previous year.

    Only 588.186 passengers on domestic and foreign flights arrived in Greek airports in June 2020, compared to 8.427.908 passengers in June 2019.

    There were 17.049 flights in May 2020, down 74% from the same month in 2019.

    The drop in passenger arrivals from abroad was even greater, falling 97,5%.

    In the first half of 2020, 6,2 million passengers travelled instead of 24.7 million passengers in the first half of 2019.

  • 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.