Symbol go
GD RT         Turnover  mln.

Aegean Airlines: Hit new record high


Hitting new record high, Aegean Airlines 2017 passenger traffic increased 6% y-o-y to 13.22m (2% above BETAe of 12.94m) from 12.46m a year earlier, on the back of 24% growth y-o-y to 3m in fourth-quarter (11% ahead of our 2.7m call). 

This impressive traffic performance reflects enhanced fleet/routing efficiencies and solid pricing strategy, as evident by Aegean’s load factor (RPK/ASK) 5.8pp hike y-o-y to 83.2% in 2017 (vs BETAe of 82.3%).  

International air traffic acted as key growth driver, up 9% y-o-y to 7.31m (2% higher vs BETAe of 7.2m), making up 55.3% of total compared with 54.1% in 2016, while domestic trading grew 3% to 5.9m (3% better-than-expected).


Management’s comment underlined the effective fleet utilization, with a strengthened position in the Athens hub as key growth drivers, reiterating that the current year plans include 18 new destinations and the addition of 700k seats.

Follow to Social Media
  Did you find this article interesting?: