AEGEAN reports Nine-Month 2012 revenue of €511.3m, 5% lower compared to the
same period last year.
Passengers carried totaled 4.9m, a 6% reduction compared to 2011, with load factor
improving from 69.2% to 73.9%, however with lower average fares in the domestic
market for a fourth consecutive year.
International traffic was marginally lower at 2.8m passengers (-1%), while domestic
demand weakness continued with traffic declining by 13% to 2.07m. The reduction in
international traffic stems exclusively from Athens, where Aegean registered a 7%
decline as part of an overall market 13% decline. On the other hand, Aegean’s
international traffic from its 5 other bases in regional/island airports increased by
10%, outperforming the overall rate of tourist arrivals in the country.
Net result after taxes deteriorated to a loss of €8.7m compared to losses of €2.72m in
2011. High oil prices as well as US dollar strength against the euro were the main
cost factors weighing on results, in addition to continuous weakness in domestic
demand.
The Company’s cash position stood at €181m at the end of September 2012.
