Aegean Airlines has reported a first quarter net loss of EUR35.2 million but was, in fact, able to recover the initial loss with a rise in revenue.
Described as ‘one of [the] few European airlines’ which was able to do so, Aegean Airlines posted a 4% year-on-year rise in revenue, totaling EUR172 million.
International passenger traffic increased by 9% to 1.4 million while domestic traffic was up by 4%, standing at 1.1 million.
Aegean Airlines CEO Dimitris Gerogiannis said. “The group managed to deliver growth in revenues, passenger traffic and load factors, within the context of the European economic slowdown, however with a drop in average fares. Aegean is one of few European airlines which managed to achieve higher revenue during the first quarter of 2019, despite the increased seasonality of the Greek market.”
In other news, the Greek flag carrier is celebrating 20 years of flying this month building on its already successful career. Aegean Airlines has been praised constantly for its service on board and was named the best regional airline in Europe by TripAdvisor for 2019. The airline also received the same award by Skytrax in 2018.