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Economy

Aegean Airlines Reports Higher Revenue and Profits in 2019

March 17, 2020
ANA

ATHENS – Aegean Airlines on Tuesday announced a 10 pct increase in its consolidated revenue at 1.3 billion euros and said its net earnings after tax increased by 16 pct in 2019. In an announcement, the Greek airline company said passenger traffic increased by 7.0 pct in the year, with AEGEAN and Olympic Air carrying 15 million passengers. EBITDA reached 269.4 million euros and cash equivalents reached 516.9 million euros.

Dimitris Georgiannis, CEO of AEGEAN, commenting on the results said: “2019 has proven our maturing of operations and the gradual success of our efforts of extending the season. For the first time we managed to achieve a profitable result also in the traditionally weak last quarter of the year. The success of 2019 contributes to a stronger starting base and contributes to reserves in organisation and financial condition. Our entire industry will be challenged by the unprecedented effects of the COVID-19 in Global Aviation and Travel. We believe in the strength of our organisation, our excellent staff and our resilience and adaptability in crisis. In this particular instance, policy makers’ actions and policies to mitigate the effects of the crisis will also be crucial.”

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