Aegean’s turnover up 17% to 268.8 million euros in Q1

Aegean’s turnover rose 17% to 268.8 million euros in the first quarter of 2024 on an annual basis.

Following the positive momentum of 2023, Aegean continued its upward trend with a further increase in capacity in the winter months.

According to the announcement, the Group offered 10% more seats on the international network in 85 direct connections from the country’s two main airports and carried 2.9 million passengers, 11% more than in the first quarter of 2023, of which 1.7 million passengers to/from foreign destinations. The occupancy rate was 82%.

Aegean remained committed to its growth strategy and combined with its rational cost management, achieved an increase in EBITDA profits, i.e. profits of 33.2 million euros from profits of 19.3 million euros in the corresponding period of 2023, but also improved its operating results (EBIT) with smaller losses of 7.2 million euros against 14.7 million euros in 2023.

The Group proceeds with the renewal of its fleet, having received 7 new aircraft since March 2023. It has also increased operating leases, reaching a total of 79 aircraft, as a result of which the depreciation fund has increased by 19% compared to the corresponding period of 2023.