Sta 132 million its profits Aegean for the nine months and the third quarter of 2024, according to the release of key financial and organic results. At 1.38 billion the Work Cycle was formed, while at 12.6 million. passengers.

In particular, Mr unified Workflow for the nine months of 2024 amounted to €1.38 billion, increased by 4% compared to the corresponding period of 2023. The Group offered 15.3 million. available seats and carried 12.6 million passengers, 5% more than last year’s period, of which 7.4 million passengers from/to foreign destinations. The Earnings EBITDA amounted to €330 million, the Profits before Taxes amounted to €170.4 million. while the Profits after Taxes of the nine months amounted to €132.0 million, 23% lower million. the corresponding period of 2023.

The nine month results represent the highest historical performance in terms of passenger traffic and Work Cycle for the company and also the second highest historical performance in terms of profitability despite the significant limitations presented. In particular, the need for early checks on Pratt & Whitney’s GTF engines that stuck up to 10 new aircraft (i.e. 17% of Jets), limited the development potential but also the cost benefit (fuel/maintenance/number of seats per flight) of their use. In addition, the suspension from the end of July due to the geopolitical crisis of the connection with Tel Aviv and Beirut (up to 11 flights daily from Athens, Thessaloniki, Heraklion, Rhodes and Larnaca) caused a loss of 3.5-4.0% of international traffic during 3rd trimester.

With the above restrictions, in the 3rd quarter Aegean offered 6.3 million available seats2% more than the 3rd quarter of 2023 while transporting 5.3 million passengers. Passenger traffic on the domestic network recorded an increase of 6%, while passenger traffic on the international network decreased by 3% compared to the corresponding period in 2023 as a result of the emergency suspension of flights to Israel and Lebanon. The occupancy rate was 83.9%. The consolidated turnover for the 3rd Quarter amounted to €630.8 million. EBITDA amounted to €182.3 million. with the final result being €138.8 million in Profits before Taxes. and in Profits after Taxes €108.3 million. from €133.6 million in the 3rd Quarter of 2023, reduced by 19%.

Cash, cash equivalents and others financial investments amounted to €762.8 million. on 30.09.2024.

Mr. Dimitris Gerogiannis, CEOsaid about it:

“Aegean also demonstrated adaptability and strong performance in 2024 amid significant external restrictions and increasing offer of third-party seats to the country. The redesign of our network as well as the effective response of our organization brought us once again satisfactory results comparable to the strongest companies in the sector.

At the same time, we invested in our potential for higher added value, competitiveness and extroversion with the completion and opening of the Training and Maintenance Center at AIA, but also our first business step outside of Greece with our minority investment and principle collaboration with Volotea.

In the last quarter of the year, we continue to take delivery of additional new aircraft and support the expansion of the tourist season by already looking forward to positive passenger and turnover growth dynamics from October/November 2024. For the 4th quarter, AEGEAN will offer 4.5 million seats, 7% more than last year by increasing frequencies and seats on domestic and international routes from/to London, Istanbul, Larnaca, Venice, Berlin, Dubai, Naples, Tirana, Belgrade and Sofia but also on new routes such as Athens – Abu Dhabi and Thessaloniki -Amsterdam».

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