Athens, Greece, March 24, 2025 — AEGEAN Airlines, Greece’s leading carrier, reported unprecedented turnover and passenger traffic for 2024, overcoming operational hurdles and regional instability to solidify its position in the aviation market.
The airline posted a consolidated revenue of €1.78 billion, a 5% rise from 2023, while transporting 16.3 million passengers—a 6% increase—fueled by robust travel demand. AEGEAN expanded its capacity to 19.8 million seats, up 1.2 million from the prior year, extending its network beyond traditional peak seasons. The load factor remained strong at 82.5%.
Financially, earnings before interest, taxes, depreciation, and amortization (EBITDA) edged up to €405.3 million, though operating profit (EBIT) dipped 8% to €227.1 million. Net profit fell 23% to €129.9 million, with pre-tax profit at €164 million, reflecting challenges like unfavorable euro-dollar exchange rates tied to aircraft lease valuations.
The fourth quarter stood out, with a 7% surge in passengers driving a 10% revenue boost and an EBIT of €27.6 million—a quarterly record. Still, 2024’s gains were tempered by setbacks: mandatory Pratt & Whitney engine inspections grounded eight to ten planes, disrupting summer schedules, and geopolitical tensions led to suspended flights to Tel Aviv, Beirut, and Amman from late July to December. Partial compensation for the engine issues fell short of covering losses.
Despite these challenges, 2024 was AEGEAN’s best year for passenger numbers and revenue, and its second-strongest for profitability. Looking to 2025, the airline plans to offer 21.5 million seats—13 million international and 8.5 million domestic—while adding eight new A321neo aircraft and expanding its Maintenance Center to serve third-party carriers.
AEGEAN’s leadership emphasized that these moves will enhance competitiveness, benefiting passengers, staff, and Greece’s economy as the airline builds on its record-breaking year.
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