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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 Nov 24, 2020, 8:47 am
  #106  
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PRESS RELEASE

Third Quarter & Nine-Month 2020 Trading Update

Net losses after tax of 28 mil. in Q3-20, carrying 2 mil. passengers 187,1 mil. net losses after tax in the Nine-month period
and a 67% decline in revenue

Kifissia, 24 November 2020

AEGEAN announces a trading update for the third quarter and nine-month period ending September 30, 2020.

The partial lifting of travel restrictions across Europe as of July allowed the gradual resumption of international flights. Nevertheless, several countries remained inaccessible, demand was weak due to the pandemic while the lack of coordination on travel protocols weighed on the restart efforts. During the third quarter of 2020, AEGEAN operated 49% less flights than in 2019 while passenger traffic was 62% lower than last year. Load factors fell to 65,7% from 87,7%. Even under these restrictions the Company carried 2 mil. passengers in the quarter, flying to 78 international and domestic destinations.
With the course of the pandemic and the renewed restrictions, especially after August, determining the level of operations, revenue during the third quarter stood at 155,1 mil. from 512,5 mil. in 2019 while net losses after tax reached 28,3 mil. from net earnings of 90,2 mil. in the same period in 2019.
Overall in the Nine-month period revenue reached 342,5 mil. from 1,031 bn in 2019, while passenger traffic reached 4,4 mil. passengers. Net losses after tax for the Nine-Month period totaled 187,1 mil. from net earnings of 77,1 mil. in the respective period last year.

Mr. Dimitris Gerogiannis, CEO of AEGEAN, commented:
During Q3 we also resumed our international operations, wherever possible, implementing strict health measures onboard our aircraft. We are proud that our efforts have been recognized by Skytrax, with the Company receiving a 4-star COVID-19 Airline Safety Rating. We welcomed 2 mil. passengers and managed to limit losses to one third of the losses recorded in the previous (Q2) quarter.
For the winter 2020/21 season the second wave of the pandemic, renewed travel restrictions and recently lockdowns across Europe and Greece will limit our activity to levels lower than 20% of the respective 2019 period.

https://en.aegeanair.com/-/media/abo...24_9m20_ir.pdf
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Last edited by DELLAS; Nov 24, 2020 at 9:01 am
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Old Nov 24, 2020, 9:11 am
  #107  
 
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No word about the 120 m .
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Old Nov 25, 2020, 4:49 am
  #108  
 
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Originally Posted by powergean
No word about the 120 m .
Expected: it's for the Greek Government to decide, not for Aegean, which will only have to say "thank you"!
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Old Nov 25, 2020, 5:08 am
  #109  
 
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Originally Posted by KLouis
Expected: it's for the Greek Government to decide, not for Aegean, which will only have to say "thank you"!
Why? Government buying share . Not giving money for ,,thank you"
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Old Nov 25, 2020, 7:17 am
  #110  
 
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Originally Posted by powergean
Why? Government buying share . Not giving money for ,,thank you"
It's called a bailout for a reason.
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Old Nov 25, 2020, 7:25 am
  #111  
 
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Originally Posted by powergean
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.
Anyway, wasn't someone saying that they wouldn't need any help!?
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Old Nov 25, 2020, 12:29 pm
  #112  
 
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Originally Posted by headingwest
Anyway, wasn't someone saying that they wouldn't need any help!?
Of course! I think is not a help about survival.. If you see the numbers they have cash enough. Is more about growing.. The new planes are coming. :-)))
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Old Nov 25, 2020, 12:54 pm
  #113  
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Some background details:

https://m.naftemporiki.gr/story/1662349
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Old Nov 25, 2020, 1:10 pm
  #114  
 
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Originally Posted by powergean
Of course! I think is not a help about survival.. If you see the numbers they have cash enough. Is more about growing.. The new planes are coming. :-)))
How can I put this nicely? You have absolutely no idea what you are talking about.
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Old Nov 25, 2020, 2:23 pm
  #115  
 
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Originally Posted by Cookoovaya
How can I put this nicely? You have absolutely no idea what you are talking about.
?????????????????????????????
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Old Nov 26, 2020, 2:16 am
  #116  
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Aegean does not own many, if any, aircraft. The same applies to the Neo's. Sure, Aegean advertises an X billon Euros fleet ... but that is what they are leasing. Not owning.

So at times that they cannot fly they will still be paying off the lease contracts, but won't bring any revenue in. And that's in addition to the other stable costs, like for example labor for crews sitting at home. This burns some serious cash.

And don't forget all the refunds that they still have to pay out! I would not think too lightly about their financial situation to get through the tough times. This winter will likely be the worst ever for Aegean, and this is a situation that nobody could foresee - hence there not being any plans on how to handle this properly.

I don't think that the government would let Aegean fail that easily though. And this attempt for aid proves that too. But without aid I'm not entirely sure if they would be able to make it until the next tourist season.

And I get it; its the national airline - I think all of us would like to see them succeed and come through this mess in one piece. But we also have to be realistic and recognize the changes that are and will be happening.
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Last edited by Xandrios; Nov 26, 2020 at 2:26 am
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Old Nov 26, 2020, 3:29 am
  #117  
 
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As first step, sure they will stop serving free food and drink, like Lufthansa group did aswell..
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Old Nov 26, 2020, 7:31 am
  #118  
 
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Originally Posted by Cookoovaya
How can I put this nicely? You have absolutely no idea what you are talking about.
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.
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Old Nov 26, 2020, 8:03 am
  #119  
 
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Originally Posted by powergean
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.
Do you understand that Aegean and all other airlines have liabilities, right?
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Old Nov 26, 2020, 8:12 am
  #120  
 
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In the numbers i told you, everything is include, after Aegeans economic report.
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