Aegean Releases First Quarter 2013 Results

Aegean Airlines saw an increase in turnover of 11 percent year-on-year that reached 115.9 million euros from 104.6 million euros last year, according to its first quarter 2013 results.

The airline managed to contain losses from 31.2 million euros last year to 8.2 million euros in the first three months of the year.

After-tax losses amounted to 1.23 million euros, against 24.9 million euros a year earlier.

Aegean carried one million passengers during the January-to-March period, achieving an increase in its average load factor to 70.5 percent from 65.3 percent.

Passengers on international flights reached 585,000, rising by seven percent against 2012.

However, domestic traffic fell by 13 percent, with average fares declining by a further nine percent for a fifth consecutive year as a result of declining local GDP.