Aegean Airlines A320
International passenger traffic rose 17% year-over-year to 1.1 billion. Domestic traffic was down 6% to 992 million as the Star Alliance member adjusted demand with lower fares and reduced flights, which improved load factors on both domestic and international routes to 76.8%, up 7.5 points year-over-year.
“We have recorded improved load factors during the winter season with attractive fares, which give the chance of affordable trips on a wider network,” MD Dimitris Gerogiannis said in a statement.
“Local demand remains weak and, combined with the seasonality of Greek tourism, resulted in the underutilization of our fleet,” he said, adding this will continue to have a negative impact on financial results for the winter months. “Nevertheless, the evolution of load factors as well as pre-bookings for the summer season, which basically shape our financial performance, remains encouraging for the full year,” he said.
Aegean Airlines reported a 2016 net profit of €32.2 million ($33.9 million), down 52.9% from €72.1 million in 2015. Gerogiannis said, “Weak demand in the second quarter of the year, combined with domestic tax increases in value-added tax on airline fares by 11%, had a negative impact on full-year results, despite strong performance in the third and seasonably most important quarter of the year.”
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