AEGEAN 2025: Passenger growth and fleet expansion with an eye on the international market

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Strong maturation prospects for 2025 and historical show successful 2024 were presented by AEGEAN CEO Dimitris Gerogiannis astatine the yearly wide gathering of shareholders, held connected April 29. With a absorption connected fleet upgrades, web enlargement and improving the rider experience, the largest Greek hose maintains a dependable upward trajectory, contempt geopolitical and operational challenges.

Dynamic commencement to 2025: Passenger maturation and caller investments

2025 has started positively for AEGEAN, arsenic the archetypal 4th recorded an 8% summation successful full rider numbers (3.1 million) and an awesome 12% summation successful planetary rider postulation compared to the aforesaid play successful 2024.

The institution plans to connection 21.5 cardinal seats for the full year, successful 47 countries and 249 destinations, with an summation successful offered capableness by 1.9 cardinal seats – a show higher than the European average. This maturation is achieved astatine a clip erstwhile the manufacture is facing delays successful craft deliveries owed to constricted shaper capabilities.

AEGEAN has strengthened its concern program, adding 8 much Airbus A321neo to its existing fleet. In total, the fig of caller craft it has already received reaches 35, portion 23 much deliveries remain, of which 4 volition beryllium A321LR type, with the quality to alert for up to 7.5 hours.

At the aforesaid time, investments proceed successful the Maintenance and Training Center, which already serves customers from ample planetary groups. A caller circular of scholarships for craft technologist grooming is already underway, strengthening the quality resources and sustainability of the country's aviation ecosystem.

2024 arsenic a milestone year: Record passengers and turnover

Last twelvemonth was a milestone for AEGEAN, arsenic it achieved a historical precocious successful rider postulation and turnover. The institution carried 16.3 cardinal passengers, 6% much than successful 2023, with an summation of 8% successful home flights and 4% successful the planetary network. The formation enactment besides accrued by 6%, reaching 19.8 cardinal seats offered successful 158 destinations, successful 47 countries.

Particular value is attached to the strengthening of enactment successful the off-peak months, chiefly successful the 4th quarter, wherever a 7% summation successful rider postulation and historically precocious operating profitability was recorded. This is attributed to the capableness enlargement strategy and the enlargement of request from some overseas and Greek travelers.

However, 2024 was not without challenges. The request for aboriginal checks connected Pratt & Whitney GTF engines led to the impermanent withdrawal of 8–10 craft during the captious summertime period. In addition, the geopolitical situation successful the Middle East imposed the suspension of routes to Tel Aviv, Beirut and Amman from the extremity of July until the extremity of the year.

Despite the obstacles, the Group’s fiscal results were strong:

Turnover: €1.78 cardinal (+5%)
EBITDA: €405.3 cardinal (+1%)
Earnings earlier tax: €164.0 million
Net profit: €129.9 million
Cash: €769.1 million
Net debt: €662.2 million
Equity: €499.4 million

The summation successful currency was achieved contempt the repayment of important liabilities, including €85.4 cardinal to the State for the redemption of COVID-19 warrants.

Passenger acquisition and integer translation successful focus

AEGEAN invested importantly successful upgrading the rider experience: installing escaped Wi-Fi, renewing the compartment and lounge menus, wholly renovating the Business Lounges successful Athens, Thessaloniki, and Larnaca, arsenic good arsenic strengthening the Miles+Bonus programme with caller partnerships.

Particular notation was made of the AEGEAN Pass program, which was expanded with caller destinations, portion the renewed mobile exertion present offers a friendlier situation and a amended idiosyncratic acquisition astatine each stages of the journey.

Continuity and renewal strategy

Closing his speech, Dimitris Gerogiannis underlined AEGEAN's committedness to quality, sustainable development, and the instauration of worth for passengers, employees, and shareholders:

“We stay committed to perpetually raising the bar. To innovate, amended our services, and respond to the evolving needs of our passengers and the demands of the European environment.”

With a plan, liquidity, quality resources, and technological renewal, AEGEAN declares itself acceptable to support its starring presumption successful Greek and determination aerial transport.