Go Back  FlyerTalk Forums > Miles&Points > Airlines and Mileage Programs > Aegean Airlines | Miles+Bonus
Reload this Page >

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

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

Old Jun 7, 2017, 8:28 am
  #31  
 
Join Date: Feb 2015
Location: Paris
Programs: Miles&Bonus *G
Posts: 318
Originally Posted by DELLAS
April – May 2017 Passenger Traffic

2 million passengers and overall international traffic increased by 15%, while traffic to Athens increased by 19%!

AEGEAN’s international passenger traffic increased by 15% during April and May 2017, if compared to the same period in 2016. Significant momentum was achieved with the commencement of the summer season and the transportation of 1.2 million passengers. The Athens base—with the contribution and maturity of destinations launched in 2015 and 2016, but also with new destinations – launched in 2017—recorded the largest increase, with international passengers increasing by 19%.

Overall passenger traffic in the domestic and international network amounted to 2.1 million passengers, recording an 8% increase if compared to 2016. Even in the domestic network, the company maintained its total number of passengers stable, despite the reduction in Public Service Obligation Routes operated by Olympic Air, and the entry of new competitor airlines to the market.

https://en.about.aegeanair.com/media...oy-maioy-2017/

---

First Quarter 2017 Trading Update

Higher passenger traffic with improved load factors

Kifissia, 23 May 2017

AEGEAN announces a trading update for the First Quarter of 2017 showing consolidated revenue at €151.9m, 3% higher compared to €147.9m in the first quarter of 2016. Passenger traffic rose by 5% compared to 2016, reaching 2.1m passengers, with significantly improved load factors. The company operated 7% less flights compared to the respective period in 2016.

Net losses after tax stood at €35.8m from €21.5m in the respective quarter of 2016. Fleet underutilization in the winter months along with the move of Easter into the second quarter of the year, weighed on results of the seasonally weakest quarter of the year.

Traffic in the international network increased by 17%. On the other hand, domestic traffic was 6% lower, as the Company adjusted the activity to soft demand with lower fares, reduced flights and hence achieving improved load factors.

Cash & financial investments reached €262m at period end 31.03.2017 [1].

https://en.about.aegeanair.com/media...rading-update/
Doesn't sound that great. I am guessing A3 is profitable in the summer season, but is it profitable enough to offset the winter losses? I hope they become more cost-efficient, without emulating low-cost carriers like Ryanair.
blackball is offline  
Old Jan 10, 2018, 5:00 pm
  #32  
Original Poster
 
Join Date: Jun 2006
Posts: 5,948
A Historic Record of 13.2 million passengers

6% increase in traffic

International passenger traffic increased significantly by 15%

AEGEAN and Olympic Air passenger traffic increased by 6% in 2017. For the first time in the airlines’ history, the number of passengers surpassed the 13 million mark. More specifically, a historic record of 13.2 million passengers were carried; 750 thousand more than the previous year. It is worth mentioning that the increase in traffic is entirely due to the improved utilization of the network, since the number of flights operated in 2017 was not higher than in 2016.

Passengers traveled in the international network, which continues to be the main growth driver, amounted to 7.3 million passengers, recording an annual increase of 9%. On the other hand, despite the increased number of competitors, domestic traffic also increased, reaching 5.9 million passengers compared to 5.7 million in 2016, with frequent and appealing fare offers leading to higher load factors.

The strengthening of the Athens network has been the main focus of investment for yet another year. More specifically, international passenger traffic increased by 15%, while total traffic from AIA increased by 9%, with AEGEAN surpassing 10 million passengers for the first time, thus contributing to the traffic and tourist movement of the airport and the city of Athens.

In 2017, AEGEAN achieved historically high load factors, as a result of its successful commercial policy and efficient network management. Specifically, the load factor rate for the entire domestic and international network increased to 83%, compared to 77% in the previous year.

https://en.about.aegeanair.com/media...si-etoys-2017/
1nsane likes this.
DELLAS is offline  
Old Jan 14, 2018, 5:33 am
  #33  
 
Join Date: Dec 2013
Location: Cyprus
Programs: LH SEN, A3*G, TK*G E+, ALL/Accor Plat
Posts: 644
Originally Posted by DELLAS
A Historic Record of 13.2 million passengers

6% increase in traffic

International passenger traffic increased significantly by 15%

AEGEAN and Olympic Air passenger traffic increased by 6% in 2017. For the first time in the airlines’ history, the number of passengers surpassed the 13 million mark. More specifically, a historic record of 13.2 million passengers were carried; 750 thousand more than the previous year. It is worth mentioning that the increase in traffic is entirely due to the improved utilization of the network, since the number of flights operated in 2017 was not higher than in 2016.

Passengers traveled in the international network, which continues to be the main growth driver, amounted to 7.3 million passengers, recording an annual increase of 9%. On the other hand, despite the increased number of competitors, domestic traffic also increased, reaching 5.9 million passengers compared to 5.7 million in 2016, with frequent and appealing fare offers leading to higher load factors.

The strengthening of the Athens network has been the main focus of investment for yet another year. More specifically, international passenger traffic increased by 15%, while total traffic from AIA increased by 9%, with AEGEAN surpassing 10 million passengers for the first time, thus contributing to the traffic and tourist movement of the airport and the city of Athens.

In 2017, AEGEAN achieved historically high load factors, as a result of its successful commercial policy and efficient network management. Specifically, the load factor rate for the entire domestic and international network increased to 83%, compared to 77% in the previous year.

https://en.about.aegeanair.com/media...si-etoys-2017/
It seems from the reported statistics that much of the growth in passenger numbers has been in international point to point travel to ATH (partly reflecting the bumper tourist season which Greece has enjoyed this year). If so, do you think that the severe competition in this market with several LCCs will mean that these passenger numbers (and increased load factors) will not be reflected in increased profits? My concern is that A3 is getting less interested in international transfer traffic (and thus the wind-down in its LCA *A operations) and more in point to point travel to Greece (plus domestic transfers). I foresee severe competition and conflict with LH Group on the horizon and A3 perhaps being pushed into OW or working more with Etihad. Already this year, EW has started its expansion into Cyprus and their flights are additional to the multi-daily flights operated by OS, LH and LX to VIE, MUC, FRA and ZUR.
Alexandros Bravos likes this.
johnirvine is offline  
Old Mar 11, 2018, 7:28 am
  #34  
Original Poster
 
Join Date: Jun 2006
Posts: 5,948

Passenger Traffic January - February 2018

Wednesday, 07-03-2018




Strong start to the year with 1.5million passengers


12% growth in total traffic


15% growth in international traffic







AEGEAN reports a strong start to the year with a 12% growth in passenger traffic for January and February 2018, welcoming 1.5 million passengers on board its flights.

More specifically, AEGEAN and Olympic Air carried 680 thousand passengers on domestic flights, a 9% growth compared to the same period in 2017, while passengers carried on international flights increased by 15% to 808 thousand. Total flights operated increased by 2%, hence the growth in passenger traffic stemmed mainly from higher load factors which averaged 81% from 76% in the respective 2017 period.

Traffic from the main base in Athens rose by 14%, with AEGEAN achieving a faster pace of growth compared to the overall market as the latter grew by 6.5%. More specifically, AEGEAN’s international traffic from Athens grew by 19% following a significant investment on maintaining many seasonal destinations in the winter period, contributing on the extension of the season as well as offering more direct connection choices to passengers.

https://en.about.aegeanair.com/media...550.1507571512
DELLAS is offline  
Old Mar 13, 2018, 1:16 pm
  #35  
Suspended
 
Join Date: Jul 2007
Posts: 4,477
I think Greece is recovering which helps Aegean too. I wonder if Aegean will upgrade its summer schedule. It is a pity that Cyprus venture did not blossom. There are opportunities for sure!
FlyerTalker688786 is offline  
Old Aug 31, 2018, 1:22 am
  #36  
Original Poster
 
Join Date: Jun 2006
Posts: 5,948
Kifissia, 31 August 2018
AEGEAN announces its first half 2018 results with consolidated revenue at €455.7m, 1% higher compared to the respective period in 2017 and net losses narrowing to €13.8m from €20m in 2017.
Total passenger traffic increased by 7% to 5.9m passengers, with the Company offering 3% more capacity in ASKs and 4% in total available seats. Passengers carried on domestic flights increased by 5% το 2.7m while passengers traveled on the international network increased by 8% to 3.3m. Load factor improved to 81.7% from 79.2%, reflecting commercial initiatives and increased network synergies. International traffic from Athens International Airport grew by 13%, with the Company initiating 11 new international destinations from Athens.
Operating cashflow strengthened to €163.2m from €127.4m, resulting to cash and cash equivalents of €395.8m1 at 30.06.2018, a net increase of €58.4m relative to June 2017 even following advances of €33.6m related to the recent purchase agreement with Airbus.


https://en.aegeanair.com/-/media/abo...31_1h18_ir.pdf
headingwest likes this.
DELLAS is offline  
Old Dec 2, 2018, 11:45 am
  #37  
Original Poster
 
Join Date: Jun 2006
Posts: 5,948
PRESS RELEASE

Nine-Month 2018 Trading Update

10.8 million passengers and 13% net earnings growth

Kifissia, 27 November 2018

AEGEAN announces 2018 9-month results with consolidated revenue at €939.3m, 5% higher than 2017. Pre-tax earnings rose 14% to €115.8m and net earnings after tax were up 13% to €80.9m.

During the 9-month period to September 30, 2018, AEGEAN and its subsidiary Olympic Air, carried 10.8m passengers, 6% more than the previous year, with 4.8m in domestic and 6m in the international network. Total passengers from/to Athens hub traveling on international routes increased by 12%. Load factor improved to 83.6% from 82.9% in 2017 as a result of efficient revenue and network management.

During the third quarter, revenue increased to €483.6m, 9% up compared to 2017. Pre-tax earnings increased by 4% to €134.1m while net earnings were 3% higher compared to last year at €94.7m, despite the significant rise of fuel costs which stood at 27% for the quarter even after the effect of hedging.

http://www.aegeanair.com/-/media/abo...27_9m18_ir.pdf
DELLAS is offline  
Old Dec 2, 2018, 8:43 pm
  #38  
FlyerTalk Evangelist
 
Join Date: Aug 2014
Programs: Top Tier with all 3 alliances
Posts: 11,781
Nice, the milking of the Golds worked out well for them, I am happy for them...

I am so over this airline...
johnirvine likes this.
nk15 is offline  
Old Dec 2, 2018, 11:13 pm
  #39  
 
Join Date: Jan 2004
Location: Heraklion, Greece
Posts: 7,588
Just being curious, how many A3 flights did you have per year?
DELLAS and Dover2Golf like this.
KLouis is offline  
Old Dec 3, 2018, 1:13 am
  #40  
Carlson Contributor Badge
 
Join Date: Jun 2016
Location: OTP/KRK
Programs: M&M FTL, Miles+Bonus Gold
Posts: 665
”4.8m in domestic and 6m in the international network”
4.8m in domestic? wow!
GBobon is offline  
Old Dec 3, 2018, 4:56 am
  #41  
Suspended
 
Join Date: May 2011
Location: London
Programs: *A G, OW S.
Posts: 996
Great figures and strong growth.

Perhaps on the back of that they could let golds select seats free of charge in economy? Is there another airline that charges in these circumstances? Even BA allow it!
Dover2Golf is offline  
Old Dec 4, 2018, 4:17 am
  #42  
Original Poster
 
Join Date: Jun 2006
Posts: 5,948
Originally Posted by KLouis
Just being curious, how many A3 flights did you have per year?
Obviously not enough to bankrupt the airline . The new policies and other charges have actually had a postive impact in contributing to the financial results. Let us not forget that if it was not so easy to maintain *G on A3 this board would go quiet very quickly! The real business and revenue customer is what A3 care about.
DELLAS is offline  
Old Dec 4, 2018, 5:28 am
  #43  
 
Join Date: Oct 2012
Posts: 5
Originally Posted by GBobon
”4.8m in domestic and 6m in the international network”
4.8m in domestic? wow!
It's perfectly normal for "semi-insular" country and a popular destination in Q2 + Q3

Analyzing a bit the A3 schedule you will see that there are many domestic routes that are beating the international routes in term of Available Seats - no matter winter or summer. In Q2+Q3, the domestic AS is even higher than in the rest of the quarters.

Some roughly calculations bellow.

S2019, ATH JTR ATH
6 * 320 / 170 seats = 1020
4 * DH4 / 78 seats = 312
1 * 321 / 196 seats = 196
1528 * 2 = 3056 seats per day

---

S2019, ATH SKG ATH
9 * 320 / 170 seats = 1530
1 * 321 / 196 seats = 196
Total 1726 * 2 = 3452 seats per day

---

S2019, ATH HER ATH
7 * 320 / 170 seats = 1190
1 * 321 / 196 seats = 196
Total 1386 * 2 = 2772 seats per day

---

S2019, ATH JMK ATH
5 * 320 / 170 seats = 850
3 * DH4 / 78 seats = 234
Total 1386 * 2 = 2772 seats per day

---

S2019, ATH RHO ATH
6 * 320 / 170 seats = 1020
Total 1020 * 2 = 2040 seats per day

Total for this 5 routes per day = 14.452 seats available

In Q3 there will be 92 days. So, 1.329.584 seats with only 5 routes.

In Q3 2018 there were 5.732.000 total seats. So the routes above represents 23.20% from the total of Q3.

I made the calculations using the max number of seats per plane and not deducting the eventual business class seats on certain flights.
GBobon likes this.
airclicks is offline  
Old Dec 4, 2018, 6:20 am
  #44  
Carlson Contributor Badge
 
Join Date: Jun 2016
Location: OTP/KRK
Programs: M&M FTL, Miles+Bonus Gold
Posts: 665
yep, youre right, I didnt pay too much attention on how many domestic flights they have daily
GBobon is offline  
Old Mar 28, 2019, 10:03 am
  #45  
Original Poster
 
Join Date: Jun 2006
Posts: 5,948
PRESS RELEASE

2018 Financial Results

5% rise in consolidated revenue at €1.19bn with 14m passengers

Net earnings at €67.9m

Kifissia, 28 March 2019

AEGEAN announces financial results for fiscal year 2018, showing an 5% rise in consolidated revenue at €1,187.4m. Net earnings after tax increased by 13% at €67.9m

Total traffic reached 14m passengers, 6% higher than 2017, given efficient network management. International traffic reached 7.8m passengers, 7% higher than 2017 while domestic traffic increased by 4% to 6.1m passengers.

Load factor further improved to 83.9% as a result of the company’s efficient management of its fleet, network and fares despite the intense seasonality of demand. Total number of flights increased marginally by 1%.

Operating cashflow reached €86.4m. Cash and financial investments reached €290.2m, after the outflow of €47.9m in pre-delivery payments in relation to the Airbus Α320neo order.

Mr. Dimitris Gerogiannis, CEO of AEGEAN, commented:

“In 2018 we have managed to improve our profitability as well as our commercial performance in the international network, despite increased competition as well as cost pressures given the sharp rise in oil prices. The gradual recognition of the quality of our services and our strive for consistent improvement support our positive trends. At the same time, we have committed to significant investments which will allow us to improve our product and cost competitiveness and further develop the skills of our people.

In 2019 we are gradually and moderately continue to invest in our network, adding new destinations and offering a total capacity of 17.7m seats.”






http://en.aegeanair.com/-/media/abou...28_fy18_en.pdf
Dover2Golf, headingwest and ErnstH like this.
DELLAS is offline  

Thread Tools
Search this Thread

Contact Us - Manage Preferences - Archive - Advertising - Cookie Policy - Privacy Statement - Terms of Service -

This site is owned, operated, and maintained by MH Sub I, LLC dba Internet Brands. Copyright © 2024 MH Sub I, LLC dba Internet Brands. All rights reserved. Designated trademarks are the property of their respective owners.