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A3 financial results [last update Nov 2023, Q3 2023 results]

A3 financial results [last update Nov 2023, Q3 2023 results]

Old Apr 12, 2021, 1:07 am
  #136  
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PRESS RELEASE

Fourth Quarter and Full Year 2020 Financial Results

Second lockdown results in 74% Revenue decline in Q4-20 5,2 mil. passengers and €228 mil. Net Losses in full year 2020

Kifissia, 12 April 2021

AEGEAN announces financial results for the fourth quarter and the fiscal year 2020.
The resurgence of the pandemic and the renewed restrictive measures imposed in Europe and in Greece, heavily impacted the Group’s activity and load factors in the fourth quarter. Sectors flown were 61% lower than 2019 while passenger traffic was lower by 77% and revenues by 74% during Q4-20. Indeed, for the two-month period of November/December, when essential travel restrictions were applied to the domestic market, the traffic decline exceeded 85%.
Including the fourth quarter, revenues for the full year reached €415,1 mil. compared to €1,3 bil. in 2019, while the Group carried 5,17 mil passengers, a 65% reduction from the 15 mil. passengers carried in 2019. Indeed, for the 9 month period from April, following the inception of the pandemic to the end of the year, revenues and passenger traffic recorded a decrease of 76%, while load factor fell from 85% in 2019 to 62% in 2020.
For the full year net losses before taxes reached €296,8 mil. while net losses after taxes reached €227,9 mil. compared with € 106,7 mil. profit before taxes and €78,5 mil. after taxes in 2019.
The Company took immediate actions to effect costs savings, manage capital expenditures and to strengthen liquidity in response to the crisis.
Cash and cash equivalents stood at €478,4 mil. on 31/12/2020.
Mr. Dimitris Gerogiannis, CEO of AEGEAN, commented:
“2020 was certainly the most difficult year in aviation history. From the onset of the crisis we have worked diligently to manage the challenges of this special period. We continue to work to further enhance our resilience and competitiveness but also to develop new services for our passengers to be more effective once restrictions are gradually lifted. Naturally, the completion of the upcoming share capital increase is another important step in this process.

https://en.aegeanair.com/-/media/abo...12_fy20_ir.pdf
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Old Apr 14, 2021, 1:46 am
  #137  
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Announcement

Partial Change of the Use of Proceeds of the Common Bond Loan of €200,000,000

Kifissia, April 14, 2021

According to paragraphs 4.2 and 4.1.3.9 of the Athens Exchange Rulebook, the company “AEGEAN AIRLINES SOCIETE ANONYME” (hereinafter “the Company”) announces, that pursuant to its Bondholders Meeting Decisions on the 30th March 2021, the amendment agreement of the Common Bond Loan of €200,000,000 (hereinafter “the CBL”) was signed, which among others include the partial change of the use of proceeds under the CBL.

More specifically the Meeting of Bondholders on 30th March 2021 approved that the use of 14% of the net proceeds raised by the CBL (for a total amount net of issuing costs €27.420,58 thous. i.e. €27.465,16 thous. minus €44,58 thous. which have already been used according to the initial use) to be used by 31.12.2021 as working capital, instead of being used to finance part of the construction of a training centre and offices at Athens International Airport, a project that the Company has temporarily postponed, in the framework of the capital expenditure reduction program, as a result of COVID-19 pandemic consequences. In this respect, it is noted that the Company has already relocated its departments (offices) at Athens International Airport to the existing facilities, thus achieving cost savings and better coordination, despite the postponement of the aforementioned project. It is therefore proposed that the funds earmarked for the construction of the training centre should be allocated to working capital, while the construction of the training center, which is temporarily postponed, will be funded by other sources.

As for the remainder, the provisions of section 4.1.2 (Reasons for Issuance of the CBL and Use of Funds) of the Prospectus approved by the Hellenic Capital Market Commission on 28.02.2019, without further modification, apply.

https://en.aegeanair.com/-/media/abo...roceeds_en.pdf
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Old Apr 14, 2021, 11:56 am
  #138  
 
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It will be interesting whether this reallocation of investment funds intended for increasing future human capital will be seen as in line with EU bailout rules. The decision is, of course, entirely understandable given Aegean's current cash burn.
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Old Apr 14, 2021, 3:49 pm
  #139  
 
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Originally Posted by johnirvine
It will be interesting whether this reallocation of investment funds intended for increasing future human capital will be seen as in line with EU bailout rules. The decision is, of course, entirely understandable given Aegean's current cash burn.
Why not?
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Old Apr 15, 2021, 1:52 am
  #140  
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Because part of the loan was aparently given for a specific investment, and they are now going to spend that to cover 'operating costs, ie spend it on the fuel bill.
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Old Apr 15, 2021, 12:11 pm
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Originally Posted by Xandrios
Because part of the loan was aparently given for a specific investment, and they are now going to spend that to cover 'operating costs, ie spend it on the fuel bill.
I dont think in today situation will make any problem...
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Old Apr 16, 2021, 10:09 am
  #142  
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Hopefully the newer aircraft will ease their fuel bills going forward . 18 aircraft A320CEO are leaving the fleet by 2022.
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Old Apr 16, 2021, 10:52 am
  #143  
 
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Originally Posted by DELLAS
Hopefully the newer aircraft will ease their fuel bills going forward . 18 aircraft A320CEO are leaving the fleet by 2022.
Are you sure? Vassilakis was talking about growing the fleet. Until now 12 neo came, and they sended back 3 ceo.
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Old May 14, 2021, 8:55 am
  #144  
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Report of the Board of Directors of the company “AEGEAN AIRLINES Société Anonyme” in accordance with the provisions of paragraph 4.1.3.13.2 of the Regulation of the Athens Stock Exchange and with the provisions of Article 9 of law 3016/2002.

Α. Introduction
The Extraordinary General Meeting of the Shareholders of the Company “AEGEAN AIRLINES SOCIETE ANONYME” (hereinafter “the Company”) pursuant to the resolution of March 12th, 2021, among others granted the authority to the Board of Directors of the Company to decide for the share capital increase of the Company, according to the provisions of article 24 par. 1 (b) of Law 4548/2018, by declaring that in the context of this power, the Board of the Directors will be entitled to decide for the share capital increase for the purposes of article 30 of Law 4772/2021 to raise funds of €60,000,000, in order for the state aid of an amount up to €120,000,000 to be disbursed (hereinafter “the State Aid”).
For the purposes of the State Aid grant to the Company, pursuant to the power granted with the above-mentioned Shareholders General Meeting, the Board of Directors of the Company at its meeting held on May 14th, 2021 plans to decide, among others:

(i) The Share Capital Increase of the Company, for the amount of EUR 12.187.500 (hereinafter the “Increase”) with the issuance of up to 18.750.000 new common, voting, registered shares with a nominal value of EUR 0,65 each (hereinafter the “New Shares”), by payment in cash and with a pre-emptive right in favor of the existing shareholders. Those who have the right of preference in the Increase will be entitled to acquire New Shares with a ratio of 0,262542164271582 New Shares for one (1) old share. If the Share Capital Increase is not fully subscribed, the Increase will not be partially subscribed according to article 28 of Law 4548/2018 and thus it will be cancelled.
(ii) To set the offering price of the New Shares to EUR 3,20 per New Share (hereinafter the “Offering Price”). The Offering Price of newly issued shares may exceed the official quotation on ex-rights date. The difference between the nominal share capital and the proceeds from the Issuance, amounting to EUR 47.812.500 will be credited to the “Reserve from the issuance of shares above par” account.

(iii) In the case of unsubscribed New Shares following the timely exercise or extinguishment of the Pre-emptive Rights (the “Unsubscribed Shares”), the right of pre-subscription will be offered to persons who have exercised their Pre-emptive rights (the “Pre-subscription Right”) for the acquisition of Unsubscribed Shares which cannot exceed 100% of the number of the New Shares resulting from the exercise of their Pre-emptive rights, at the Offering Price.

(iv) In the case there are any Unsubscribed shares post the exercise or extinction of the preemptive rights and pre-subscription rights, the Board of Directors of the Company at its absolute discretion may allocate the Unsubscribed Shares to (i) the Shareholders of the Company that have a direct or indirect holding of more than 5% of Company’s Share Capital and have declared and disclosed their intention to cover Unsubscribed Shares (excluding any pre-subscriptions) and (ii) in the case that there are still unsubscribed shares following the aforementioned (i) allocation to main shareholders, to dispose them through private placement to qualified investors as defined under article 2(e) of the EU Regulation 2017/1129 or/and to other non-qualified investors with a minimum amount of unsubscribed
1





https://en.aegeanair.com/-/media/abo...dreport_en.pdf
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Old May 14, 2021, 9:07 am
  #145  
 
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Originally Posted by DELLAS
Report of the Board of Directors of the company “AEGEAN AIRLINES Société Anonyme” in accordance with the provisions of paragraph 4.1.3.13.2 of the Regulation of the Athens Stock Exchange and with the provisions of Article 9 of law 3016/2002.

Α. Introduction
The Extraordinary General Meeting of the Shareholders of the Company “AEGEAN AIRLINES SOCIETE ANONYME” (hereinafter “the Company”) pursuant to the resolution of March 12th, 2021, among others granted the authority to the Board of Directors of the Company to decide for the share capital increase of the Company, according to the provisions of article 24 par. 1 (b) of Law 4548/2018, by declaring that in the context of this power, the Board of the Directors will be entitled to decide for the share capital increase for the purposes of article 30 of Law 4772/2021 to raise funds of €60,000,000, in order for the state aid of an amount up to €120,000,000 to be disbursed (hereinafter “the State Aid”).
For the purposes of the State Aid grant to the Company, pursuant to the power granted with the above-mentioned Shareholders General Meeting, the Board of Directors of the Company at its meeting held on May 14th, 2021 plans to decide, among others:

(i) The Share Capital Increase of the Company, for the amount of EUR 12.187.500 (hereinafter the “Increase”) with the issuance of up to 18.750.000 new common, voting, registered shares with a nominal value of EUR 0,65 each (hereinafter the “New Shares”), by payment in cash and with a pre-emptive right in favor of the existing shareholders. Those who have the right of preference in the Increase will be entitled to acquire New Shares with a ratio of 0,262542164271582 New Shares for one (1) old share. If the Share Capital Increase is not fully subscribed, the Increase will not be partially subscribed according to article 28 of Law 4548/2018 and thus it will be cancelled.
(ii) To set the offering price of the New Shares to EUR 3,20 per New Share (hereinafter the “Offering Price”). The Offering Price of newly issued shares may exceed the official quotation on ex-rights date. The difference between the nominal share capital and the proceeds from the Issuance, amounting to EUR 47.812.500 will be credited to the “Reserve from the issuance of shares above par” account.

(iii) In the case of unsubscribed New Shares following the timely exercise or extinguishment of the Pre-emptive Rights (the “Unsubscribed Shares”), the right of pre-subscription will be offered to persons who have exercised their Pre-emptive rights (the “Pre-subscription Right”) for the acquisition of Unsubscribed Shares which cannot exceed 100% of the number of the New Shares resulting from the exercise of their Pre-emptive rights, at the Offering Price.

(iv) In the case there are any Unsubscribed shares post the exercise or extinction of the preemptive rights and pre-subscription rights, the Board of Directors of the Company at its absolute discretion may allocate the Unsubscribed Shares to (i) the Shareholders of the Company that have a direct or indirect holding of more than 5% of Company’s Share Capital and have declared and disclosed their intention to cover Unsubscribed Shares (excluding any pre-subscriptions) and (ii) in the case that there are still unsubscribed shares following the aforementioned (i) allocation to main shareholders, to dispose them through private placement to qualified investors as defined under article 2(e) of the EU Regulation 2017/1129 or/and to other non-qualified investors with a minimum amount of unsubscribed
1





https://en.aegeanair.com/-/media/abo...dreport_en.pdf
????????? With easy words, that i understand? Please!
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Old Jul 8, 2021, 1:55 am
  #146  
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https://en.aegeanair.com/-/media/abo...08_1q21_ir.pdf
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Old Sep 17, 2021, 1:26 am
  #147  
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https://en.aegeanair.com/-/media/abo...17_1h21_ir.pdf
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Old Sep 22, 2021, 5:01 am
  #148  
 
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https://www.ot.gr/2021/09/21/english...the-day-after/
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Old Oct 4, 2021, 3:32 am
  #149  
 
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I guess thet'as gonna be the end of the small Mykonos base. It is a pity.
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Old Oct 19, 2021, 5:24 am
  #150  
 
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Aegean invest

https://en.about.aegeanair.com/media...in-animawings/
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