Aegean Airlines posts smaller loss of $39.91mn in Q2, 2021

Industry

Aegean Airlines posted a smaller second-quarter loss than a year earlier as Greece’s largest carrier saw traffic more than double.

A net loss of 33.9 million euros ($39.91 million) for the April-June quarter was less than half the 73.4 million loss it suffered a year earlier. Sales rose 168 per cent to 108.6 million euros.

 

The member of the Star Alliance airlines group said flight operations in the quarter remained at just 35 per cent of those seen in the pre-pandemic second quarter of 2019. The airline flew 1.2 million passengers on 15,000 flights.

Aegean’s cash reserves stood at 545 million euros at the end of June.

“With the lifting of restrictions since the end of May airline activity showed signs of recovery. We had positive cash flow for the first time in 18 months,” CEO Dimitris Gerogiannis said.

 

Source: Civil Aviation Authority-Qatar