Category Archives: Aegean Airlines

Aegean Airlines announces a major expansion in Cyprus

Aegean Airlines (Athens), in the wake of the demise of Cyprus Airways (Larnaca), has announced it is filling the void with a major Cyprus expansion. The airline issued this statement:

Aegean Airlines presented its plan for the dynamic growth of its presence in Cyprus and a more effective support of passengers’ needs.

After its 10 years operation in Cyprus and four years after creating its aircraft base in Larnaca, Aegean is taking a new step forward. As of March 30, 2015 – the beginning of the summer schedule – Aegean will base four Airbus A320 aircraft in Cyprus, while the number of destinations connected directly with Cyprus will increase to 14. The total yearly capacity will exceed 1.5 million seats. The company aims to support this venture with additional human resources from Cyprus at the earliest opportunity.

More specifically, with the company’s summer schedule as of April 2015, the connection between Greece and Cyprus is boosted with more frequent flights to Athens and Thessaloniki, and the introduction of a direct flight between Athens and Paphos. The new summer schedule also includes direct connections with Heraklion and Rhodes, while direct connections with Myconos and Santorini will be added in July and August. Eight to nine direct flights with destinations in Greece will depart daily.

The company’s planning focuses on the direct connection of Cyprus with Western Europe and therefore five important destinations are added: London – Heathrow, Paris, Munich, Rome and Milan.

Additionally, when the traffic rights procedures are completed, Aegean will offer flights to Israel, Kiev and Beirut.

Copyright Photo: Stefan Sjogren/AirlinersGallery.com. Airbus A320-232 SX-DVL (msn 3423) approaches the runway at Stockholm (Arlanda).

Aegean Airlines aircraft slide show:

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Aegean Airlines Group reports strong passenger growth and an increased profit of $96.5 million for the first 9 months

Aegean Airlines Group (Aegean Airlines and Olympic Air) (Athens) reported its net profit for the first nine months increased 33 percent to €78.6 million ($96.5 million).

The airline group issued this statement:

Aegean Airlines Group reported a strong set of nine month 2014 results, driven by successful network expansion and Olympic Air synergies. Consolidated revenue increased by 10% to €736 million, pre-tax earnings improved to €105.4 million from €75.9 million while net earnings rose by 31% to €78.6 million from €60 million in 2013.

Αegean Airlines and Olympic Air carried 7.9 million passengers in the 9-month period to September 2014, an increase of 14% compared to 2013 with load factor at 79%. Traffic in the domestic network increased by 16% with the market showing good elasticity to lower fares. International traffic rose by 12%, with traffic out of Athens registering a higher growth rate of 18% on the back of Aegean’s network expansion and a strong rebound for the city’s incoming tourism.

Operating cash flow improved to €124 million, resulting to cash & short term investments rising to €264m at the end of September, despite the share capital return which took place in July 2014 as well as pre-delivery payments to Airbus in relation to the recently announced aircraft order.

Mr. Dimitris Gerogiannis, Managing Director, commented:

“We have managed to deliver improved commercial and financial results, driven by synergies from Olympic Air integration, network optimization targeting improved connectivity as well higher tourist flows. Our expansion strategy has yielded positive results in a period of intensifying competition and despite traffic weakness demonstrated from the Russian market.

We will continue to invest in growing our fleet and capacity for 2015, adding destinations and penetrating new source markets for Greek tourism. Our key priorities involve continuous investments in growing our network, achieving scale economies as well as focusing on new service offerings to our passengers within a fast changing competitive environment that does offer however significant opportunities to grow further.”

Copyright Photo: Antony J. Best/AirlinersGallery.com. Olympic Air is gradually being integrated into Aegean. Olympic Air now just operates aircraft of one manufacturer, Bombardier, under its brand, essentially now a regional feeder airline for Aegean Airlines. Former Flybe Bombardier DHC-8-402 (Q400) G-JECV (msn 4148) is now SX-BIT with Olympic Air.

Aegean Airlines aircraft slide show:

Aegean Airlines adds more routes for the winter and next summer

Aegean Airlines (Athens) is adding more destinations and frequencies to its existing network. Aegean has announced the operation of nine additional international flights from Athens, compared to the winter of 2013.

Aegean will also extend the operation of 8 summer seasonal flights into the winter period. The airline will also resume flights from Athens to Cairo. The winter timetable will operate from October 26, 2014 until March 28, 2015.

2014 summer flights from Athens to Stockholm, Copenhagen, Manchester, Zurich and Marseille will be continued into the winter season.

During the winter season, beginning on October 26, Aegean will continue to operate flights to Abu Dhabi, Beirut, Amman, while the company will resume flights to Cairo after a three year hiatus.

The company is also increasing the frequencies on routes from Athens to Barcelona, Berlin, Budapest, Düsseldorf, Geneva, Vienna, Prague, Warsaw, Rome and Tel Aviv.

Aegean will also increase the size of its fleet with the order of seven new Airbus A320s, equipped with the new “Sharklets” on their wings, which will be delivered directly from the manufacturer. The deliveries of the seven new aircraft will begin in June 2015 and will be completed in early 2016.

Aegean currently operates 205 international routes, from its eight Greek bases.

Increased frequencies on existing routes:

Athens – Barcelona from 3 to 4 weekly,
Athens – Berlin from 3 to 5 weekly, additional frequencies in Christmas season
Athens – Budapest from 2 to 3 weekly, additional frequencies in Christmas season
Athens – Dusseldorf from 2 to 4 weekly
Athens – Geneva from 3 to 4 weekly
Athens – Vienna from 4 to 5 weekly, additional frequencies in Christmas season
Athens – Tel Aviv from 5 to 6 weekly
Athens – Prague from 3 to 5 weekly, additional frequencies in Christmas season
Athens – Warsaw from 4 to 5 weekly
Athens – Rome from 9 to 12 weekly

For the Summer 2015 schedule, the airline will launch of 23 new routes. These new routes are mainly focusing on Corfu, Irakleion and Rhodes according to Airline Route.

Planned new summer service:

From Corfu to Paris and Rome

From Heraklion to Amsterdam, Copenhagen, Geneva, Istanbul (Sabiha Gokcen), London (Gatwick), Metz, Milan (Malpensa), Nantes, Prague, Rome (Fiumicino), Stockholm (Arlanda), Stuttgart and Toulouse

From Rhodes to Amsterdam, Geneva, Larnaca, Lyon, Stuttgart, Tel Aviv and Vienna

Copyright Photo: Pedro Pics/AirlinersGallery.com. Airbus A320-232 SX-DVJ (msn 3365) departs from London (Stansted).

Aegean Airlines: AG Slide Show

Aegean is celebrating this award from Skytrax:

Aegean FA-Best Regional (Aegean)(LRW)

 

Aegean Airlines orders two more Airbus A320s

Aegean Airlines (Athens) has signed a firm contract with Airbus for two additional A320 (A320ceo) aircraft, adding to a previous order for five A320s aircraft placed in September 2007.

All aircraft will be equipped with Airbus “Sharklet” fuel saving wing tip devices and will be powered by IAE V2500 engines. The aircraft will also be the first A320s in Aegean’s fleet to feature the enhanced take-off weight capability of up to 78 tons, thus enabling the carrier to expand its route network with even longer range operations.

Aegean Airlines operates an all-Airbus single-aisle fleet of 36 Airbus A320 family aircraft including 17 directly purchased aircraft.

Copyright Photo: Arnd Wolf/AirlinersGallery.com. Airbus A320-232 SX-DGI (msn 3162) arrives in Munich with the special “Visit Greece” web address.

Aegean Airlines: AG Slide Show

Aegean Airlines reports a first quarter net loss of $11.4 million

Aegean Airlines (Athens) reported a first quarter net loss of $11.4 million. The company issued this statement:

Aegean reports first quarter 2014 results with consolidated revenue of €133.9 million, and after-tax losses during the seasonally weakest quarter of the year of €8.4 million ($11.4 million). On a pro-forma basis, i.e. assuming consolidation of Olympic Air in the respective period last year, losses narrowed compared to after-tax losses of €13.2 million in the first quarter of 2013 while revenue showed a 1% rise.

It is noted that results are not comparable with reported parent results of 2013 given the fact that the latter set of results did not include Olympic Air (Athens) as the acquisition was completed in October 2013.

Αegean Airlines and Olympic Air carried 1.6 million passengers in the first quarter of 2014, 12% more versus the previous year. Domestic network passengers increased by 17% to 930 thousand while international network passengers reached 700,000, 6% higher versus last year. Load factor improved by 1.8 percentage point to 73%.

Operating cash flow improved significantly resulting to an increase in the company’s cash and cash equivalents to €274 million from €239 million in December 2013.

Mr. Dimitris Gerogiannis, Managing Director, commented:

“Following the acquisition of Olympic Air, the initial benefits from network synergies are already evident and along with our new pricing policy are translated to improved load factors and increased connecting traffic during this seasonally weakest quarter for the year.

Pre-bookings for the summer season as well as our traffic results for April 2014 confirm the positive trend. Our investment in expanding our network and capacity with the addition of 5 airbus aircraft and 17 new international destinations as of May/June, takes place within a rising demand environment. On the other hand, available capacity offered is substantially increased by the majority of operators active to the Greek market.

As far as Olympic Air integration is concerned, implementation is progressing in line with targets, with the full synergy and scale economies benefits expected to mature with the next 12 months. At the same time, innovation and services that add value to our customers remain a top priority.”

Copyright Photo: Antony J. Best/AirlinersGallery.com. Airbus A320-232 SX-DVV (msn 3773) of Aegean Airlines taxies at London (Heathrow) while promoting the new Acropolis museum.

Aegean Airlines: AG Slide Show

Olympic Air (3rd): AG Slide Show

 

 

Aegean Airlines signs a code-share agreement with Etihad Airways, will launch service to Abu Dhabi

Aegean Airlines (Athens) and Etihad Airways (Abu Dhabi) have signed a code-share agreement.

As a result, Aegean Airlines will commence four flights a week service between Athens and Abu Dhabi starting on March 30, 2014 and, subject to regulatory approvals, Etihad Airways will place its EY flight code on the new flight.  Aegean Airlines will operate its new Athens-Abu Dhabi service with a 168-seat Airbus A320 aircraft.

Beyond Athens, Etihad Airways will also place its flight code on Aegean-operated flights to 16 Greek destinations, and to a further 10 cities across Europe.

In other route news, Aegean will restore a route to Hamburg starting on May 27. The route will be operated three days a week.

Copyright Photo: Paul Bannwarth/AirlinersGallery.com. Aegean Airlines’ Airbus A320-232 SX-DGD (msn 4065) with the promotional visitgreece.com sub-titles taxies past the camera at Nantes, France.

Aegean Airlines:AG Slide Show

Aegean Airlines to launch Athens-Copenhagen flights on May 22, 2014

Aegean Airlines (Athens) will start a new route, three days a week, between Athens and Copenhagen starting on May 22, 2014. The new route will be operated with Airbus A32os. The Copenhagen route is part of an overall expansion plan in 2014 (see below).

Previously on October 31 Aegean outlined its future plans now that Olympic Air has been acquired:

Aegean Airlines presented the benefits, arising from the acquisition of Olympic Air, for the company, the passengers, the society and the Greek tourism, as well as its overall strategy, during a press conference held on October 31 in Athens.

In the immediate period of the next 6 to 14 months, following the acquisition of Olympic Air, the resulting synergies will lead to an enhanced fleet and an immediate expansion of the network, to the enhancement of the connectivity in Greece and abroad, as well as to cost savings from the consolidation of Administrative Services, with benefits saving up to €35 million annually.

Aegean’s objective and commitment is to pass these benefits to the passengers with more competitive rates, enhancement of privileges for loyal customers of both companies and network expansion.

In terms of benefits arising regarding the prices, Aegean has already announced the launch of two new categories of fares in economy class, the GoLight and Flex fares, with prices starting from €24 to Athens, which ensure money-saving and unlimited flexibility respectively. These new fares will be offered to Olympic Air’s passengers from February 2014.

Moreover, following a recent meeting with representatives of the Greek region, the company announced a package of initiatives to support the remote areas of Greece, by integrating the second lowest fare of €39 from/to remote areas in order to boost the demand, by introducing new charges for the connection between the remote islands and abroad with a significant reduction in travel cost up to €140, as well as by increasing capacity during July – September, at no additional cost to the state, where it is commercially and operationally feasible.

Aegean will make dynamic start in 2014 also in terms of its network, with a further expansion of international destinations and new routes.

Analytically, Aegean announced the addition of 15 new destinations from Athens in 2014, reaching to 47 overall international destinations from Athens. Specifically the new destinations include: Birmingham in England, Marseille and Nantes in France, Zurich in Switzerland, Hamburg, Hanover and Nuremberg in Germany, Copenhagen in Denmark, Catania in Italy, Abu Dhabi in the United Arab Emirates, Beirut in Lebanon and Paphos in Cyprus, as well as four additional cities including Stockholm, Sweden or Oslo in Norway, Ljubljana in Slovenia, Dubrovnik in Croatia.

Overall in 2014, 45 to 50 new routes will be added from the eight bases of the company in Athens and in the Greek region, including the new base in Chania.  As a result, Aegean and Olympic Air will jointly cover in 2014 a network of more than 250 routes, of which 205 or more are international routes and 47 to 50 domestic routes.

The progress so far and the development of Aegean is based on collaborative effort and support by six major business groups (Vassilakis, A & P Laskarides Constantakopoulos A., D. Ioannou, G. David, Piraeus Bank) and 52,000 shareholders who continue to support the company into its dynamic new course that appears after the acquisition of Olympic Air.

Copyright Photo: Christian Volpati/AirlinersGallery.com. Airbus A320-232 SX-DGB (msn 4165) taxies at Paris Charles de Gaulle Airport (CDG).

Aegean Airlines: AG Slide Show