Aegean Airlines announced its key financial and operating results for Q1 2016. Its consolidated revenue amounted to € 147.9 million up by 7% compared with the corresponding quarter of 2015. Passenger numbers rose by 9% to 2 million and executed flights rose by 6%.
Financial highlights for the three months that ended on 31-Mar-2016 are as follow:
- Total revenue: EUR147.9 million, +7% year-on-year;
- Costs: EUR180.0 million, +14.1%;
- Fuel: EUR29.5 million, -4.2%;
- Labour: EUR25.9 million, +6.6%;
- EBIT (loss): (EUR27.7 million), compared to a loss of EUR17.5 million in p-c-p;
- Net profit (loss): (EUR21.5 million), compared to a loss of EUR8.3 million in p-c-p;
- Passenger numbers: 2.0 million, +9%;
- Domestic: 1.1 million, +6%;
- International: 956,000, +12%;
- Load factor: 69.3%, -1.0 ppt;
- Yield: EUR 8.5 cents, -5%;
- Revenue per ASK: EUR 5.9 cents, -6%;
- Cost per ASK*: EUR 7.0 cents, +3%;
- Cost per ASK excl fuel*: EUR 5.9 cents, +8%;
- Average sector length: 760 km, +5%;
- Total assets: EUR694.3 million;
- Cash and financial investments: EUR254.8 million;
- Total liabilities: EUR503.5 million. [more – original PR]
*At EBT level
According to the company’s announcement: “The delivery of our new aircraft is now complete so we start the year with a significantly larger – and younger – fleet and network compared to early 2015. We anticipate collecting on our network and fleet investment in the summer season through increased traffic flows, new services and the efficiency of our new fleet. Winters which are weak in incoming tourism demand do cost more as we grow and as the domestic consumer remains weak due to the economy; this in turn increases our reliance on the quality of the demand of the summer season,” Dimitris Gerogiannis, Managing Director.
Source: Company statement, 26-May-2016.
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