Aegean Airlines posts first quarterly profit since pandemic struck

Greece's largest carrier Aegean Airlines swung to a Q3 profit as passenger traffic recovered from pandemic travel restrictions and resurgent tourist arrivals. Aegean said net profit reached E51.3m in the three months to Sept. 30, compared with a loss of E28.4m in the same period last year. Sales rose 115% to E333.9m. CE Dimitris Gerogiannis said that Q3 was its first profitable quarter since the coronavirus crisis started in early 2020. "We have adapted the programme flexibly, responding to opportunities from major markets such as Germany, France, Belgium, the Netherlands and Austria," he added. The airline flew 3.3m passengers in the quarter, up 70% from the same period last year. The company's cash reserves at the end of September were unchanged from the end of the previous quarter at E543.5m.<br/>