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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 Sep 28, 2020, 6:50 am
  #91  
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Does anyone know what Aegean means whey they talk about jet fuel hedging ineffectiveness? Does that mean they overpaid and overstocked on fuel that they now of course do not need?
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Old Sep 28, 2020, 6:53 am
  #92  
 
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Originally Posted by atothepoweroftwo
Does anyone know what Aegean means whey they talk about jet fuel hedging ineffectiveness? Does that mean they overpaid and overstocked on fuel that they now of course do not need?
In this situation it is basically that they pre-purchased fuel that because of the pandemic they didn't need. Also there was some ineffectiveness in the form of paying to much as crude prices dropped hard this year for some periods of time.
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Old Sep 28, 2020, 9:39 am
  #93  
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Financial presentation here :


https://en.aegeanair.com/-/media/abo...esentation.pdf
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Old Sep 28, 2020, 9:42 am
  #94  
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So they can get rid of 26 ceos in the next two years.
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Old Sep 28, 2020, 10:44 am
  #95  
 
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Originally Posted by headingwest
Well I am not saying they will, but if they are trying to strip out costs, why wouldn't they consider leaving?
They are not stupid to leave staralliance.
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Old Sep 28, 2020, 11:23 am
  #96  
 
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Originally Posted by atothepoweroftwo
So they can get rid of 26 ceos in the next two years.
They sade, the fleet will grow up to 100 in the coming years.. If they only changing the old planes with new, will stay always a mini airlines. Of course the covid can change all the planes..
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Old Sep 28, 2020, 4:45 pm
  #97  
 
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Originally Posted by DELLAS
Some good very forward thinking talent has sadly been lost at the company in the last 6 weeks.
Hi DELLAS,

Could you please elaborate?
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Old Sep 29, 2020, 2:07 am
  #98  
 
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Originally Posted by powergean
They sade, the fleet will grow up to 100 in the coming years.. If they only changing the old planes with new, will stay always a mini airlines. Of course the covid can change all the planes..
growing now would be the wrong thing to do. Survival is key.
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Old Sep 29, 2020, 2:13 am
  #99  
 
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Originally Posted by Yreal
growing now would be the wrong thing to do. Survival is key.
I think Aegean will survival. They are lucky with the inside Greece trafic, is quite strong.
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Old Sep 29, 2020, 2:37 am
  #100  
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Originally Posted by atothepoweroftwo
Does anyone know what Aegean means whey they talk about jet fuel hedging ineffectiveness? Does that mean they overpaid and overstocked on fuel that they now of course do not need?
Originally Posted by NextWhiteDeath
In this situation it is basically that they pre-purchased fuel that because of the pandemic they didn't need. Also there was some ineffectiveness in the form of paying to much as crude prices dropped hard this year for some periods of time.
A3 are not alone in this. BAs last financial statement also had an entry for fuel hedging gone wrong, a very big number in their case!

Now BA has generally been regarded as delivering strong, responsible financial performance. If theyve been caught out, so has most of the industry. There are risks and rewards to hedging, but most airlines do it because it gives financial certainty and protects against short term peaks. I doubt any of this will change A3s long term strategy.
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Old Sep 29, 2020, 5:58 am
  #101  
 
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Originally Posted by NWIFlyer
A3 are not alone in this. BAs last financial statement also had an entry for fuel hedging gone wrong, a very big number in their case!

Now BA has generally been regarded as delivering strong, responsible financial performance. If theyve been caught out, so has most of the industry. There are risks and rewards to hedging, but most airlines do it because it gives financial certainty and protects against short term peaks. I doubt any of this will change A3s long term strategy.
To add to this. Hedging as you said provide a boost or a headwind when it comes to cost. Some years ago Southwest Airlines did some stellar hedges and had a massive cost advantage for over a year. They had fuel cost lower they anyone else in the US.
Of course there is the other side of the coin as in now when fuel that you have committed to buy can't be used. Also this year it doesn't help that fuel prices have been dropping hard as there just isn't demand for it. That is because there are fewer flights.
Actually I would be interested if anyone didn't take a hot on hedges as the drop in fuel prices in Q2 was large.
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Old Sep 29, 2020, 6:24 am
  #102  
 
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Originally Posted by powergean
I think Aegean will survival. They are lucky with the inside Greece trafic, is quite strong.
I was surprised this week that the flights to/from MJT are packed, could not even purchase a ticket on my preferred dates.

My upcoming ATH-WAW flight this week is showing nearly sold out as well:

A3 872 ATH WAW
10/01/20 3:45 PM

10/01/20 5:20 PM
C7 D0 Z0 A0 I6 R0 Y9 B9 M7 H0 Q0 V0 W0 O0 L0 K0 J0 E0 S0 T0 U0 P0 G0 N0 X0 F0
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Old Sep 29, 2020, 7:12 am
  #103  
 
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Originally Posted by PointWeasel
I was surprised this week that the flights to/from MJT are packed, could not even purchase a ticket on my preferred dates.

My upcoming ATH-WAW flight this week is showing nearly sold out as well:

A3 872 ATH WAW
10/01/20 3:45 PM

10/01/20 5:20 PM
C7 D0 Z0 A0 I6 R0 Y9 B9 M7 H0 Q0 V0 W0 O0 L0 K0 J0 E0 S0 T0 U0 P0 G0 N0 X0 F0
Looks like Olympic flights helping out Aegean now😂😂
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Old Sep 30, 2020, 6:01 am
  #104  
 
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Looking the numbers, they have cash enough to survival for 2 years, even 2021 will be the same ..... ( i hope not) Aegean started the covid period with 510m +150 from the banks. Losses the first half year was 158m . The second half will be mutch better, let say all year they will have a loss of 200 -250 m. They will have still enough money, to make it without government loan.
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Old Nov 24, 2020, 8:07 am
  #105  
 
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https://en.about.aegeanair.com/-/med...orceDownload=0
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