Aegean Airlines EBIT down 45% in 1H2015

Aegean Airlines revenue up 4% - financial highlights for six months ended 30-Jun-2015:

• Revenue: EUR403.6 million, +4% year-on-year;
• Costs:
• • Fuel: EUR92.3 million, -9%;
  • Labour: EUR51.0 million, +10%;
• EBIT: EUR12.8 million, -45%;
• Net profit: EUR14.8 million, -8%;
• Passenger numbers: 5.0 million, +15%;
• • Domestic: 2.6 million, +10%;
  • International: 2.4 million, +20%;
• Load factor: 73.4%, -2.7 ppts;
• Revenue per ASK: EUR 6.7 cents, -11%;
• Yield: EUR 9.1 cents, -8%;
• Cost per ASK*: EUR 5.6 cents, -9%;
• Cost per ASK excl fuel*: EUR 4.1 cents, -2%;
• Average sector length: 766 km, +4%;
• Total assets: EUR819.3 million;
• Cash and financial assets: EUR320.3 million;
• Total liabilities: EUR618.9 million. [more - original PR]

*At EBITDAR level

Aegean Airlines: "Given the imposition of the capital controls, the extended bank holiday and the political developments, we have witnessed deteriorating conditions in July. Despite the loss in net bookings occurred during the first two weeks of July, our immediate response with fare offerings and the stability which followed Greece's agreement with its partners, have led us to recover the lost ground in terms of traffic but with a subsequent cost to our yields," Dimitris Gerogiannis, Managing Director. Source: Company statement, 31-Aug-2015.