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Aegean Airlines incurs loss despite having two million passengers

The airlines started operating 49 percent of its flights in the third quarter and witnessed a 62 percent slump in passenger traffic based on last year’s traffic data for the same period

Greece-based Aegean Airlines have registered a loss in the third quarter despite having carried two million passengers. It is reported that the airlines recorded a 67 percent slump in revenue, with a net loss of $222.6 million after-tax.

The airline incurred loss amid a partial lifting of travel restrictions in July and is now seeing the gradual return of international flights and bringing back passengers to Greece. Many destinations in the country remained inaccessible for locals due to travel bans imposed to contain the spread of the virus.

Furthermore, the airlines started operating 49 percent of its flights in the third quarter and witnessed a 62 percent slump in passenger traffic based on last year’s traffic data for the same period. However, Aegean Airlines managed to operate a few of its flights to domestic and international destinations amid strict rules and regulations imposed on them by the government.

The airline’s revenue peaked at $407.2 billion for the first nine months. However, the revenue was down compared to the $1.225 billion mark in the equivalent period of 2019.

CEO Dimitris Gerogiannis, told the media, “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 two million passengers and managed to limit losses to one-third of the losses recorded in the previous (Q2) quarter.”

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