Aegean Airlines Reports Losses in the Third Quarter of 2020

November 24, 2020

ATHENS — Aegean Airlines on Tuesday reported losses of 28.3 million euros in the third quarter of 2020, hit by restrictions imposed because of the pandemic, after profits of 90.2 million euros in the same period last year.

The Greek airline company said that from early July and after a partial lifting of restrictions in Europe, a gradual return of international flights began, but several markets remained inaccessible, demand was weak and a lack of coordination in travel protocols made things difficult. Aegean said its flights were cut back by 49 pct compared with the third quarter of 2019, while passenger traffic was down 62 pct in the same period. Average flight occupancy was 65.7 pct (87.7 pct in 2019), totaling around 2.0 million passengers in 78 destinations in Greece and abroad. Turnover shrank to 155.1 million euros in the July-September period, from 512.5 million last year,

In the nine-month period, turnover was 342.5 million euros from 1.031 billion in 2019 and passenger traffic totaled 4.4 million. Net results, after tax, showed a loss of 187.1 million euros after profits of 77.1 million last year.

Cash reserves totaled 433.3 million euros at the end of September and borrowing was 290 million euros.


ATHENS - Greek public debt totaled 357,295 billion euros at the end of the third quarter of 2021, from 337,666 billion in the corresponding period in 2020, Hellenic Statistical Authority said on Friday.

Top Stories


BOSTON – The Holy Synod of the Patriarchate of Alexandria in its recent meeting dealt with the ecclesiastical coup perpetrated by the Patriarchate of Moscow in its canonical jurisdiction, calling it an “immoral invasion and intrusion.


NEW YORK - Some 21 years after it was destroyed in the September 11, 2001 terrorist attacks in the United States that brought down the Twin Towers in New York City, the new St Nicholas Greek Orthodox Church rising in its place is among the most eagerly awaited architectural openings of 2022.


STATEN ISLAND, NY – For yet another year, the community of Holy Trinity-St Nicholas in Staten Island honored couples celebrating 50+ years of marriage with a modest ceremony held at the church immediately following the Divine Liturgy on January 16.


SNF’s Health Initiative Will Support Child and Adolescent Mental Health

ATHENS - When we think about childhood injuries, we usually think of scratches, a few stitches, maybe even a broken bone.

Enter your email address to subscribe

Provide your email address to subscribe. For e.g. abc@xyz.com

You may unsubscribe at any time using the link in our newsletter.