Kurt Hofmann - ATW
Aegean Airlines reported 2015 nine-month net profit of €81.9 million ($92.1 million), up 4.2% from €78.6 million in the year-ago period. The airline said the results were due to increased tourist flows to Greece and particularly to Athens, network efficiencies, gradual routes maturity as well as increased connectivity.
Nine-month revenue rose 8.3% to €792.2 million. Pre-tax profit for the period was €114.7 million, up 8.8% from €105.4 million year-over-year. Earnings before interest, tax, depreciation and amortization (EBITDA) increased 1.3% to €120.3 million from €118.8 million in the year-ago period.
Aegean MD Dimitris Gerogiannis said, “During 2015 we continued our expansion strategy, having added 40 additional new international destinations following theacquisition of Olympic Air. The third and most important quarter of the year started with unique challenges given the imposition of capital controls which led to a loss in net bookings. Nevertheless, we executed the delivery of three new aircraft [Airbus A320s] despite the extended bank holiday in Greece while net bookings gradually recovered and we have eventually managed to bring results from our investments in new fleet, network expansion and services.”
The total number of passengers carried rose 17% to 9.2 million; however, load factor decreased 1.6 points to 77.4%.
The Star Alliance member said it has outperformed market growth in all its main bases in Athens, Rhodes and Heraklion.
The 2015 Aegean network offers 15 million available seats, two million more than 2014, with flights to 134 destinations (34 domestic and 100 international) to 42 countries.
Aegean Airlines 9-month net profit up 4.2% | Finance & Data content from ATWOnline
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