Other News - 08/31/2009

Aegean Airlines earned a €13.4 million ($19.2 million) profit in the first half of 2009, more than double the €5.5 million reported in the year-ago semester. Revenue rose 5% to €275.4 million. It cited falling oil prices and reduced maintenance and fuel costs associated with its recent fleet renewal. It took delivery of eight A320 family aircraft during the six-month period. Aegean transported 2.9 million passengers, up 9%, boosted by a 20% gain in international boardings to 1.3 million. It currently operates 31 planes on 48 routes.

Cyprus Airways posted a €3.5 million ($5 million) first-half loss, narrowed from a €7.2 million deficit in the year-ago semester, according to a statement cited by Reuters. Revenue fell 17% to €116.4 million, although the airline earned €4.5 million on the sale of three aircraft. It said in a statement posted on its website that it expects a "decrease in passenger numbers and yields" in the second half and that its full-year results will be "lower in comparison to those of 2008," when it earned a €1.7 million profit.