Aegean narrows 1H loss despite difficult conditions

Aegean Airlines, Greece's largest airline by passenger numbers, narrowed losses in 1H2011 (six months to 30-Jun-2011) despite myriad trading difficulties across Europe and sharp fuel price rises. While economic problems have been much more acute in Greece than elsewhere, Aegean Airlines has turned the business around following cost reductions and a network overhaul, leaving it less exposed to the Greek market.