Aegean Airlines Releases 2012 Results

Aegean Airlines reported 2012 revenue of 653.4 million euros, two percent lower compared to 2011. Νet result after tax improved to a loss of 10.5 million euros compared to a loss of 27.2 million euros in 2011.

Aegean Airlines

Passengers carried totaled 6.1 million compared to 6.5 million in 2011, with load factor improving from 69 to 74 percent.

The number of passengers carried on domestic routes declined significantly by 12 percent with average fare falling by more than 10 percent, declining for the fourth consecutive year. International traffic reached 3.5 million passengers with traffic from/to Athens declining by six percent whilst from/to other regional airports increased by 10 percent.

Despite weak local demand, the company managed to improve its operating result reporting marginally positive EBITDA of 2.9 million euros, given improved performance in international routes with incoming leisure focus, cost management efforts and also more stable conditions in the country during the second half of the year.

The company’s cash position stood at 149 million euros at the end of December 2012.