London, 31 May (Argus) — Greek carrier Aegean Airlines posted a €25.6mn ($31.5mn) loss in this year's first quarter amid the country's growing financial crisis.
Fuel costs rose by 65pc from the same period last year that added to the airline's losses. But revenue rose to €114.8mn, a 3pc rise compared with last year.
Aegean saw a 17pc rise in passenger numbers with it carrying 1.3mn passengers for the January-March quarter. Its passenger load factor was up by 5.9 percentage points to 62pc.
Aegean's managing director, Dimitris Gerogiannis, felt that despite Greece's sovereign debt crisis the airline had seen some positive signs. “The current crisis requires immediate response… it is now critical to focus on managing all the elements of our company's costs in relation to capacity, network and fleet,” he said. “It is going to be a challenging path but we are confident that we have the resources and elements to be successful.”
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