DELLAS

2014 Financial Results

More than 10 million passengers carried Strong profitability for the year

Kifissia, 26 March 2015

AEGEAN reports improved 2014 results, driven by network expansion and Olympic Air synergies. Consolidated revenue increased by 7% to �912m. Passenger traffic rose by 14% to 10.1m passengers, highest ever achieved by a Greek airline.

Net earnings rose to �80.2m from �52.5m in 2013[1]. Net earnings include the positive one-time effect of �11.7m in income tax provisions.

The group generated operating cash flow of �112m, resulting to cash & short term investments of �218m at year end, despite significant pre-delivery payments in relation to the new Airbus order.

Traffic in the domestic network increased by 15% driven by demand stimulation on lower fares and strong connecting traffic. International traffic rose by 13%, boosted by performance in Athens where traffic rose by 20% on the back of AEGEAN�s network expansion which supported the city�s strong tourism recovery.

Mr. Dimitris Gerogiannis, Managing Director, commented:

�In 2014 we reached another milestone and achieved passenger traffic in excess of 10m passengers, offering the biggest network ever operated by a Greek airline with 119 destinations. Joining forces with Olympic Air has resulted to able benefits for our passengers, the Greek economy and regional employment and of course our shareholders. Synergies with Olympic Air as well as strong connectivity and positive tourist flows were the main factors that boosted our results.

For 2015 we plan to take delivery of new aircraft and expand significantly our network mainly out of Athens as well as Larnaca in Cyprus with the addition of new destinations and more frequencies on existing routes. At the same time, competition is expected to intensify, the recovery path of the Greek economy remains uncertain, whereas significant volatility on US dollar and oil markets are affecting key cost items.

On the positive side, even in this uncertain environment, Greek tourism and especially arrivals to Athens seem resilient. It is important to highlight that we maintain a long term view, targeting at improving the country�s and Athens connections, securing our competitive advantage of our main hub and also upgrading Greek travel and tourism product.�

The BoD plans to propose the distribution of EUR0.70 dividend per share for Fiscal Year 2014.

http://en.aegeanair.com/all-about-us...ease/?prid=522

eurotexan

So nice to see strong results. Thanks for posting and sharing with us here.

TGflyergirl

Wow. 10 million pax ! without me it would have been 9,999,999 and that would have been a bummer

KLouis

Your sense of numbers is really bad: it would have been 10,099,999 at a total of 10.1 million. But you were, indeed, the passenger that made the difference!

TGflyergirl

Ah. I feel better now


Anyway, it's a great set of results from a great airline, and they fully deserve to be profitable. The A3 Golds that have never been on it really need to give it a try.

DELLAS

First Quarter 2015 Financial Results

Significant investment in international destinations and capacity during the winter season

International network traffic 22% higher with lower fares



Kifissia, 27 May 2015

AEGEAN announces first quarter 2015 results with consolidated revenue at €138.1m, 3% higher versus 2014. Total number of passengers carried rose by 13% to 1.8m as the company invested more capacity, either by maintaining routes launched in the previous summer season for the winter months as well or by increasing frequencies on existing routes.

International passenger traffic rose by 22%, with Athens base being the main driver with 26% growth. Passengers carried on the domestic network rose by 7c.

Net losses after tax stood at €8.3m compared to losses of €8.4m in 2014, as lower fares, more capacity invested in the seasonally weakest period and a stronger dollar offset the benefit of lower fuel costs and unit cost reduction stemming from economies of scale.

Cash and cash equivalent reached €238m at 31.03.2015.

Mr. Dimitris Gerogiannis, Managing Director, document d:

"We started the year with a significant investment in capacity and network expansion, offering more choices to our customers and consistently supporting Athens hub with 10 new international destinations. Network expansion combined with lower fares led to a 22% growth on our international network traffic. We are investing within an environment that continues to be challenging for our country and despite increased competitive intensity, with our strategy being supported by our improving unit costs. We continue to believe that network synergies and tourism development in our country can offer further potential to our company provided a return to stability is achieved in the very near term for our country. Meanwhile, we start taking delivery of our new aircraft as of June 2015 with planned deliveries until March 2016. The performance of the forthcoming summer period of June-October, given the significance of summer revenues will as usual determine the validation of our 2015 capacity and scope investments. "

http://en.aegeanair.com/all-about-us...ease/?prid=528

djjaguar64

http://en.about.aegeanair.com/media-...ncial-results/

2015 Financial Results
Thursday, 24-03-2016
Strong network expansion, higher revenue and pre-tax profit
Kifissia, 24 March 2016


AEGEAN reports full year 2015 results with consolidated revenue at �983m, 8% higher compared to 2014. Passenger traffic rose by 15% to 11.6m passengers, continuing the fast growth for a second consecutive year following the acquisition of Olympic Air.

Pre-tax earnings rose 6% to �100.3m while net earnings after tax reached �68.4m, 15% lower compared to 2014 due to higher corporate tax rate as well as an increased deferred taxation effect.

EBITDAR reached �217.3m while EBITDA stood at �111.2m, resulting to cash & short term financial assets of �238m at year end.

Traffic in the domestic network increased by 7% to 5.6m passengers driven by demand stimulation on lower fares and strong connecting traffic. International traffic rose by 24% to 6m passengers.

Mr. Dimitris Gerogiannis, Managing Director, commented:

�In 2015 despite numerous challenges we implemented significant investments in both network and fleet, growing by 18% in terms of revenue passenger kilometers within a recessionary environment. Just two years following the acquisition of Olympic Air we now carry 40% more passengers on our international network, growing considerably faster than the overall rate of air arrivals to Greece. Within the same period we launched new products for families, upgraded our loyalty scheme as well as our digital services. Our service level and competitive fares have allowed us even to grow domestic traffic despite strong additional competitive entries. The success of our overall effort has allowed us to improve our operating and pre-tax financial results for a third consecutive year.

In 2016 we will continue to face challenges from competitors as well the significant volatility and socioeconomic problems of our region. However even within this uncertain environment, tourism demand for Greece and particularly our main hub Athens appears resilient, aided by more direct connections offered largely by Aegean but also other operators.�

The BoD plans to propose the distribution of EUR0.70 dividend per share for Fiscal Year 2015.

sokolov

I'm not so sure about the loyalty program having been "upgraded". While there are upgrade vouchers and joint accounts now, I liked it better before.

A3 carried more international pax than national ones. The Cyprus expansion definitely helped with that.

djjaguar64

Change is inevitable, we have to move forward, and not sing, "This is how we used to do it".

FlyEurope

For me -and for many others - it's definetly an improvment. I'm flying the 12k miles and 4 A3 segments either way and did so before it became a requirement for requalification. Now I'm doing 4 of my A3 flights in J class free of charge - quite a positive change if you ask me.

DELLAS

I and a few others I have been chatting to on the ground in ATH are a bit worried for the results after this Summer. With a new bailout crisis due soon A3 will be up against it again.

NWIFlyer

There will be a concern because of the wider economy, but to balance that Greece remains an attractive place to visit because of cost (both hotels and restaurants), so the tourist Euro should continue to grow because a downward pressure on prices will remain.

A3's recent main growth has come from international flights into ATH - no reason to suppose that will do anything other than continue its upward trend. The fear within other European countries of a complete collapse of the economy doesn't exist to the same extent as a few years ago, so the barrier to visiting is lower.

A3 does have an advantage as well in terms of aircraft utilisation - with an almost exclusive A320 series fleet it's relatively straightforward to switch capacity from domestic to international if that's where the demand is because range is not a problem. That's not something that could happen so easily at, say, BA, LH or TK.

DELLAS

Taking all that into account. One can flood the market with cheap seats but yields is another matter. Whilst Greek tourism is up and the trend is set to continue the figures will speak for themselves come Q3/Q4 results. I hope I and others are wrong and I have always been very optimistic but some things point to a different story this year.

DELLAS

Some April stats in from AIA ( ATH )

Slight drop in INT traffic.


April

Domestic:: 528 688 + 4.3%
International:: 944 805 -0.5%

Total: 1,473,493

Which means +1.2% over all.

NWIFlyer

Any indication on load factor? That's as important, of course - if the business is better matched to the demand, it's in control. If some aircraft have been returned at the end of a lease period, or switched onto domestic routes, you might see the factor increase in spite of absolute numbers being down in a particular sector of the business.