First Half 2014 Results and a few surprises !
Sep 1, 2014, 4:14 am
#1
Original Poster
Join Date: Jun 2006
Posts: 5,899
First Half 2014 Results and a few surprises !
Good news all round. What is more interesting is the % rise at ATH and also the Domestic market.
Significant improvement in traffic, revenue and profitability
4.3 million Passengers
Kifissia, 29 August 2014
AEGEAN reports improved results for the first half of 2014, resulting from the benefits of its network expansion and from cost synergies with Olympic Air. Consolidated revenue increased by 8% to €388.6m, compared to the combined revenue of both companies in 2013. Consolidated Pre-tax earnings reached €22m from €7.2m and after-tax earnings rose to €16m from €6.9m in 2013[1]. It should be noted that due to seasonality first half is traditionally the weakest semester in performance.
ΑEGEAN and Olympic Air carried 4.3m passengers in the first half of 2014, 16% more than the previous year, achieving further improvement on load factor to 76% from 74%, despite the high number of new destinations launched during the period. In June 2014 the company reached a historic milestone by exceeding 1m monthly passengers for the first time. Traffic in the domestic network increased by 19%, driven mainly by lower fares which boosted demand for main markets as well smaller island destinations. International traffic out of the 8 aircraft bases rose by 13%, with Athens registering a higher growth rate of 17%, as the market recovered for the first time since 2008.
As a result of higher demand and improved pre-sales, operating cashflow showed a remarkable improvement to €127m for the first half, driving cash and cash equivalents for the parent company to €357m[2] as of the end of June 2014. Strong cash flows facilitated, in line with expectations, the smooth execution of €1 per share cash return to shareholders (€71m in total) in July 2014, with the company maintaining significantly higher cash reserves versus than 31/12/2013 and therefore the ability to comfortably support its gradual growth plans.
http://en.aegeanair.com/all-about-us...ease/?prid=491
Significant improvement in traffic, revenue and profitability
4.3 million Passengers
Kifissia, 29 August 2014
AEGEAN reports improved results for the first half of 2014, resulting from the benefits of its network expansion and from cost synergies with Olympic Air. Consolidated revenue increased by 8% to €388.6m, compared to the combined revenue of both companies in 2013. Consolidated Pre-tax earnings reached €22m from €7.2m and after-tax earnings rose to €16m from €6.9m in 2013[1]. It should be noted that due to seasonality first half is traditionally the weakest semester in performance.
ΑEGEAN and Olympic Air carried 4.3m passengers in the first half of 2014, 16% more than the previous year, achieving further improvement on load factor to 76% from 74%, despite the high number of new destinations launched during the period. In June 2014 the company reached a historic milestone by exceeding 1m monthly passengers for the first time. Traffic in the domestic network increased by 19%, driven mainly by lower fares which boosted demand for main markets as well smaller island destinations. International traffic out of the 8 aircraft bases rose by 13%, with Athens registering a higher growth rate of 17%, as the market recovered for the first time since 2008.
As a result of higher demand and improved pre-sales, operating cashflow showed a remarkable improvement to €127m for the first half, driving cash and cash equivalents for the parent company to €357m[2] as of the end of June 2014. Strong cash flows facilitated, in line with expectations, the smooth execution of €1 per share cash return to shareholders (€71m in total) in July 2014, with the company maintaining significantly higher cash reserves versus than 31/12/2013 and therefore the ability to comfortably support its gradual growth plans.
http://en.aegeanair.com/all-about-us...ease/?prid=491
^
Sep 2, 2014, 12:28 pm
#3
Join Date: Jan 2004
Location: Heraklion, Greece
Posts: 7,565
Sep 2, 2014, 9:04 pm
#4
Join Date: May 2004
Location: SIN (LEJ once a year)
Programs: SQ, LH, BA, IHG Diamond AMB, HH Gold, SLH Indulged, Accor Gold, Hyatt Discoverist
Posts: 7,739
Now with no other major Greek carrier this is not so likley, but financial pressure can lead to other decisions that could impact the attractiveness of the FFP for example, so let's wish A3 continued success.
BD / BMI was great in its days (as an FFP) and see what the troubles with normal operations led too. Today it is gone and surely missed.