The sky’s no limit for Aegean Airlines’ year, profits hit stratosphere
Having already paid back a E150m COVID-19 government loan – three years early – Aegean Airlines rocketing recovery is accelerating, with 2023 seen being a big profit year. That means dividends will likely be coming to shareholders, said Chairman Eftichios Vassilakis who said the first nine months were the best the company has ever had, winning Skytrax’s Best Regional Carrier for the 12th year in a row. “Aegean has not only fully recovered from the pandemic, but has strengthened its overall position in the market and has recorded a significant improvement compared to 2019,” he said. The ratio of net profit to revenue rose to 12.8% in the last nine months, he said, making Aegean one of the best performers among European airlines with the Coronavirus all but gone and air travel fully back. He predicted that this year will end with operating profits of as much as E415m and profit before tax of E200-215m. Business is so good that the airline is buying an additional three aircraft from Airbus and leasing another, taking its fleet to 50, with the A321neos representing 60% of the total order and 28 planes already delivered.<br/>
https://portal.staralliance.com/cms/news/hot-topics/2023-11-27/star/the-sky2019s-no-limit-for-aegean-airlines2019-year-profits-hit-stratosphere
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The sky’s no limit for Aegean Airlines’ year, profits hit stratosphere
Having already paid back a E150m COVID-19 government loan – three years early – Aegean Airlines rocketing recovery is accelerating, with 2023 seen being a big profit year. That means dividends will likely be coming to shareholders, said Chairman Eftichios Vassilakis who said the first nine months were the best the company has ever had, winning Skytrax’s Best Regional Carrier for the 12th year in a row. “Aegean has not only fully recovered from the pandemic, but has strengthened its overall position in the market and has recorded a significant improvement compared to 2019,” he said. The ratio of net profit to revenue rose to 12.8% in the last nine months, he said, making Aegean one of the best performers among European airlines with the Coronavirus all but gone and air travel fully back. He predicted that this year will end with operating profits of as much as E415m and profit before tax of E200-215m. Business is so good that the airline is buying an additional three aircraft from Airbus and leasing another, taking its fleet to 50, with the A321neos representing 60% of the total order and 28 planes already delivered.<br/>
