Aegean Airlines reduces 1H losses on strong demand, tourism
Aegean Airlines reported a 2018 first-half net loss of E13.8m (US$16m), narrowed from a net loss of E20m in 1H 2017. Consolidated revenue was up 1% year-over-year to E455.7m. Operating cash flow strengthened to E163.2m from E127.4m YOY. Aegean Airlines CE Dimitris Gerogiannis said the airline further improved load factors and passenger volumes, and continues to expand capacity and optimise its network “despite substantial competitive capacity increases. Tourism demand for Greece continues to develop and is supportive but substantially seasonal,” he said. Aegean and its subsidiary Olympic Air carried 5.9m passengers in 1H, up 7% YOY. ASKs increased 2.5%. Average number of passenger per flight rose 7% to 123. International passenger traffic rose 8% YOY to 3.3m. Domestic traffic was up 5% YOY to 2.7m. <br/>
https://portal.staralliance.com/imagelibrary/news/hot-topics/2018-09-05/star/aegean-airlines-reduces-1h-losses-on-strong-demand-tourism
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Aegean Airlines reduces 1H losses on strong demand, tourism
Aegean Airlines reported a 2018 first-half net loss of E13.8m (US$16m), narrowed from a net loss of E20m in 1H 2017. Consolidated revenue was up 1% year-over-year to E455.7m. Operating cash flow strengthened to E163.2m from E127.4m YOY. Aegean Airlines CE Dimitris Gerogiannis said the airline further improved load factors and passenger volumes, and continues to expand capacity and optimise its network “despite substantial competitive capacity increases. Tourism demand for Greece continues to develop and is supportive but substantially seasonal,” he said. Aegean and its subsidiary Olympic Air carried 5.9m passengers in 1H, up 7% YOY. ASKs increased 2.5%. Average number of passenger per flight rose 7% to 123. International passenger traffic rose 8% YOY to 3.3m. Domestic traffic was up 5% YOY to 2.7m. <br/>
