A3 financial results [last update Nov 2023, Q3 2023 results]
Nov 26, 2020, 8:16 am
#121
Join Date: Feb 2019
Posts: 102
Very simple . In april Aegean had 550 mil euro cash . Accepted losses for thes year about 205 mill. 550-205 = 345 mill euros. + 120 mill from the greec banks . Is cash enough to survive 1 more very bad year ( lets hope 2021 will be better ) These are the official numbers.
On the other hand there are also things that impact the liquidity of the company, but do not affect the profit. The best example for airlines are pre-paid tickets. Airlines are only allowed to recognize these as profit after the service (i.e. flight) is delivered. Until that time they will have an asset (cash) on their balance sheet, which is off=set by a liability to deliver this service. For Aegean this means that a lot of the cash they had in April was for tickets that they had to cancel. They now have to pay this money back to those customers, which would be a huge drain on their cash. But it won't affect their profit in any way, because liabilities would be reduced by the same amount as the assets (cash).
So while their loss might be 'only' 205mln, their decrease in liquidity could be way higher.
Mar 18, 2021, 3:55 pm
#130
Join Date: Jul 2003
Posts: 1,193
I don't follow A3 much. I think I've only taken flights with them 7 or 8 times over the years. However, I do recall recently reading somewhere that they might be in trouble. Good to know that's not the case as I have 6 seats booked with them later this year.
Mar 18, 2021, 4:06 pm
#131
Join Date: Feb 2020
Posts: 488
Is a strong company, and they have all the support from the government.
Apr 5, 2021, 1:04 pm
#132
Join Date: Feb 2020
Posts: 488
Apr 11, 2021, 5:39 am
#133
Join Date: Feb 2020
Posts: 488
Apr 11, 2021, 8:42 am
#134
Join Date: Dec 2013
Location: Cyprus
Programs: LH SEN, A3*G, TK*G E+, ALL/Accor Plat
Posts: 644
And what are you expecting Aegean to tell us in the conference call, Powergean? The forthcoming financial results will surely be a disaster as with most other non-LCC airlines. Without the recent Greek government bailout, backed up by a creatively constructed injection of 'shareholder funds' to appease EU rules, the company would surely have gone under. However, Aegean is so incredibly strategically important for the Greek economy that, come what may, the airline will be provided with all the support needed to continue operating. So none of us risks losing our cancelled flight refunds. But public funding necessarily comes with political interference in airline operations (and free upgrades for bureaucrats and politicians), and this is probably the biggest risk for the airline's future.
Apr 11, 2021, 10:28 am
#135
Join Date: Feb 2020
Posts: 488
And what are you expecting Aegean to tell us in the conference call, Powergean? The forthcoming financial results will surely be a disaster as with most other non-LCC airlines. Without the recent Greek government bailout, backed up by a creatively constructed injection of 'shareholder funds' to appease EU rules, the company would surely have gone under. However, Aegean is so incredibly strategically important for the Greek economy that, come what may, the airline will be provided with all the support needed to continue operating. So none of us risks losing our cancelled flight refunds. But public funding necessarily comes with political interference in airline operations (and free upgrades for bureaucrats and politicians), and this is probably the biggest risk for the airline's future.