Aegean Airlines reported a 2019 Q2 net income of E22m (US$25m), up 30% from E17m in the year-ago period, as a result of consistent growth and efforts to extend the tourism season. The airline and its Olympic Air subsidiary saw consolidated revenue rise 20% YOY to E347.4m. Pre-tax earnings rose to E31.5m, up 29.6% YOY. Fuel costs were up 24% YOY for the quarter. Aegean Airlines CE Dimitris Gerogiannis said, “We have followed our path of consistent growth by investing additional capacity in our international network. Our effort to extend the tourism season by flying more, earlier than usual, in the months of April-May and increase the utilisation of our fleet contributed to positive results, despite the overall incoming tourism slowdown.” <br/>
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The govt is open to selling a partial stake in debt-laden Air India to a foreign airline, people familiar with the matter said Wednesday. The govt has moved about US$4.21b of Air India's debt to a separate holding company, leaving the carrier with roughly another $4.21b of debt, said a Reuters report quoting sources. The govt will also likely invite preliminary bids for the carrier by Oct 10, the sources added. In a major setback for Air India, the finance ministry is unlikely to infuse any additional funds into the airline this financial year amid a report that the govt may come out with a fresh disinvestment plan for the national carrier. <br/>