AEGEAN Flew 1.5 Million Passengers During January-March

During the first three months of the year 1.5 million passengers traveled with AEGEAN, the Greek airline company said on Thursday.

According to AEGEAN’s Q1 2022 trading update, the Group in the first quarter of the year offered 2.3 million seats. Total capacity offered during that period corresponded to 74 percent of the respective capacity offered in the first quarter of 2019.

Load factor for the three-month period improved to 66,1 percent from 47,5 percent in the first quarter of 2021, however remaining significantly lower compared with the pre-pandemic levels due to Omicron variant, especially in the first two months of the year.

With regard to AEGEAN’s financial and operating results for the first quarter 2022, the company recorded a significant increase in consolidated revenues which stood at 120.8 million euros in 2022 from 44.3 million euros in the respective quarter in 2021.

In the first quarter of 2022, which is always weaker due to seasonality, the company’s losses after taxes amounted to 38.5 million from 44.5 million in the first quarter of 2021.

AEGEAN highlights that despite the effects of the Covid-19 pandemic and the significantly increased fuel costs, losses were not higher than the ones recorded in the first quarter of 2019.

Summer 2022

For the summer period, the Group continues the gradual build-up of capacity by adding new destinations and increasing frequencies in the domestic and international network.

“The summer season shows a particularly strong dynamic in pre-bookings, with increased load factors that are approaching pre-pandemic levels,” AEGEAN CEO Dimitris Gerogiannis said.

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He added that AEGEAN’s target for 2022 is to offer new services and more options for its passengers but also to achieve the first profitable year since the pandemic started.

“Undoubtedly, in an environment with high uncertainty and high fuel costs due to the geopolitical developments, flexibility and adaptability remain key priorities,” Gerogiannis said.

Moreover, he said AEGEAN remains focused on its investment plan with the delivery of 12 new Airbus 321/320 neo during 2022.