
Passenger traffic of AEGEAN airlianes has significantly increased by 171% in the second quarter of 2022, reaching 3,3 mil. passengers from 1,2 mil. in the corresponding quarter of 2021.
Load factors have also improved, at 79,2%, 23 p.p. higher compared with the second quarter of 2021.
AEGEAN has restored its capacity at 86% in the second quarter of 2022, following the easing of Covid-related measures.
The significant increase in flight activity and demand has contributed to a 201% increase in consolidated revenue in the second quarter of 2022, which stood at €327,3 mil. from €108,6 mil. in the second quarter of 2021.
Despite the more than double fuel cost (compared with 2019), the Group reported Profit before taxes of €17,7 mil. and Profit after taxes of €10,8 mil. in the second quarter of 2022 from Losses after taxes of €33,9 mil. in the same period in 2021.
Overall, for the first half of the year, consolidated revenues increased by 193%, with passenger traffic up 187% and available seats 101% compared to the first half of 2021. In the first half of 2022 Losses after taxes amounted to €27,7 mil. from losses of €78,4 mil.
As of 30.06.2022, cash and cash equivalents balance was €602,1[1] mil.
Mr. Dimitris Gerogiannis, AEGEAN’s CEO, commented: “After two challenging years, it is a fact that revitalized demand, especially strong to Greece, supported traffic recovery. AEGEAN, following additional A320neo deliveries, invested by expanding its network from its main hub in Athens, but also from Thessaloniki, Heraklion and Chania, gradually increasing its capacity, flying to 138 destinations by the end of June.We managed to return to profitability in Q2 despite the significant increase in fuel costs well ahead Q3 which is always strongest in contribution of revenue and profitability for the year. This positive trend continued during the summer months, where we offered 98% of our pre-pandemic ASK’s and achieved Load factors of 84% and 3,2 mil. passengers in the two summer months July and August, supporting further our profitability forecast for FY 2022. We certainly still have challenges and uncertainties ahead of us. We continue to invest with a steady pace to improve our product quality and manage our network and fleet efficiently”.


Latest News

Cost of Living: Why Greece’s 3% Inflation Is Raising Alarm
Greece appears to be in a more difficult position when it comes to price hikes, just as we enter the era of Trump’s tariffs.

Fitch Ratings Upgrades the Four Greek Systemic Banks
NBG’s upgrade reflects the bank’s ongoing improvements in its credit profile, Fitch notes in its report, including strong profitability, a reduction in non-performing exposures (NPEs), and lower credit losses

Trump to Announce Sweeping New Tariffs Wednesday, Global Retaliation Expected
With Trump's announcement just hours away, markets, businesses, and foreign governments are bracing for the fallout of one of the most aggressive shifts in U.S. trade policy in decades.

Inflation in Greece at 3.1% in March, Eurostat Reports
Average inflation in the eurozone settled at 2.2%, compared to 2.3% in February

Greece’s Unemployment Rate Drops to 8.6% in February
Despite the overall decline, unemployment remains higher among women and young people.

Jerry Kalogiratos Highlights Key Role of Energy Transition and Data Demand in LNG Outlook
Energy transition and the prospects of LNG were discussed at Capital Link’s 19th Annual International Maritime Forum, during a panel discussion with Jerry Kalogiratos (Capital Clean Energy Carriers Corp.)

Santorini Safe and Ready for a Dynamic Tourism Season
Authenticity, cultural heritage, and genuine experiences at the center of Santorini's new promotional campaign

Electricity Bills: Greece Announces Reduced Tariffs Schedule
Greece will now offer lower electricity rates between 11:00-15:00 and 02:00-04:00

Chevron Confirms Eyeing Natural Gas Exploration South of Crete
Chevron recently declared its intent to explore a third area, south of the Peloponnese.

Evangelos Marinakis: A time of change from which shipping can benefit
Speaking at the 19th Annual Capital Link International Shipping Forum Evangelos Marinakis stressed the challenges that shipping faces today