Aegean Q2 net income up 30% on consistent growth, extended season

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/>