Aegean Airlines, 14% passenger traffic increase for 9M 2014

AEGEAN reports a set of 9-month 2014 results, driven by successful network expansion and Olympic Air synergies. Consolidated revenue increased by 10% to €736m, pre-tax earnings improved to €105.4m from €75.9m while net earnings rose by 31% to €78.6m from €60m in 2013.

ΑEGEAN and Olympic Air carried 7.9m in the 9-month period to September 2014, an increase of 14% compared to 2013 with load factor at 79%. Traffic in the domestic network increased by 16% with the market showing good elasticity to lower fares. International traffic rose by 12%, with traffic out of Athens registering a higher growth rate of 18% on the back of AEGEAN’s network expansion and a strong rebound for the city’s incoming tourism.

Operating cash flow improved to €124m, resulting to cash & short term INVESTMENTS rising to €264m at the end of September, despite the share capital return which took place in July 2014 as well as pre-delivery payments to Airbus in relation to the recently announced aorder.

Source and image: Aegean Airlines