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Economy

AEGEAN Airlines Reports 115% Jump in Q3 Turnover

November 24, 2021

ATHENS – AEGEAN, a Greek airline, on Wednesday reported an 115% jump in its consolidated revenue to 333.9 million euros in the third quarter of 2021 compared with the same period last year and said that pre-tax profit was 58.8 million euros, after pre-tax losses of 36.9 million in the same period in 2020. The airline attributed this positive development to the lifting of the biggest part of restrictions in movement and the introduction of the European Vaccination Certificate.

AEGEAN offered 4.6 million euros seats and transported 3.3 million passengers in the third quarter (1.5 million in domestic flights and 1.8 million in international flights). The cabin occupancy rate was 70.3%, up from 65.7% in 2020, but down from 87.7% in 2019.

In the nine-month period from January to September, the Greek airline reported 5.0 million passengers and said its pre-tax losses shrank to 32.9 million euros from 237.7 million in 2020. Pre-tax profit was 121.5 million euros in the third quarter and 29.8 million in the nine-month period after including non-repeat extraordinary revenue of 62.7 million euros.

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