Greece’s leading airline Aegean has announced higher turnover and lower losses in the first half of 2018.
In a statement made on Friday, Aegean Airlines said consolidated turnover grew 1 percent to 455.7 million euros in the January-June period, while net result after taxes showed a loss of 13.8 million euros, from a loss of 20 million euros in the same period last year.
The Greek carrier also said passenger traffic totalled 5.9 million euros in the first six months of 2018, up 7 percent.
Domestic traffic grew 5 percent to 2.7 million passengers, while international traffic rose 8 percent to 3.3 million. Average flight occupancy rose to 81.7 percent from 79.2 percent, while international traffic to/from Athens grew 13 percent and the airline added 11 new international destinations in its flight schedule from Athens.
Net operating flows totalled 163.2 million euros in the first half from 127.4 million in 2017, with cash reserves totalling 395.8 million euros, up 58.4 million from June 2017.
Aegean’s CEO Dimitris Gerogiannis, CEO said the outlook for the third and most important quarter remained positive despite more competition in the market.