Aegean, pax up by 5% in 1Q 2017
Aegean Airlines (Aegean), a Greek airline, reported that the passenger traffic of Aegean and its subsidiary Olympic Air grew by 5% year over year in the first quarter of 2017, reaching 2.1 million passengers.
According to Aegean, growth is attributed entirely to the international network with the addition and maturity of destinations and the efficient penetration to international markets yielding positive results, as international traffic grew by 17% to 1.1 million passengers.
Domestic traffic was 6% lower than last year’s to slightly less than 1 million passengers as the company adjusted the activity to soft demand with lower fares, reduced flights and hence achieving improved load factors.
Aegean said that the load factors improved significantly both in domestic and international routes by 8 points reaching 77%, record high level for a winter season.
Dimitris Gerogiannis, Managing Director of AEGEAN commented: “We have recorded improved load factors during the winter season with attractive fares which give the chance of affordable trips on a wider network with more choices for our customers. The quality of our product continues to be internationally recognized on an increasing number of markets abroad.“
“Local demand remains weak and combined with the seasonality of Greek tourism result to the underutilization of our fleet which will continue to negatively impact our financial results for the winter months. Nevertheless, the evolution of load factors as well as pre-bookings for the summer season, which basically shape our financial performance, remains encouraging for the full year,” added Gerogiannis.
Aegean now operates a fleet of 47 aircraft and Olympic Air operates 14 aircraft. The group serves 107 destinations, including domestic and international routes.