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Aegean Airlines: 'Positive increase of traffic' following Olympic Air acquisition

2-Dec-2013 4:51 PM

Aegean Airlines stated (29-Nov-2013) its acquisition of Olympic Air is already contributing to a "positive increase of traffic." Aegean Airlines MD Dimitris Gerogiannis said: "The results of recently acquired Olympic Air, which will be loss making for the full year, are not included on 9-month results as the acquisition was completed on October 23rd 2013. Olympic Air results will be included and will burden full year results. Nevertheless, we are optimistic as we now have the opportunity through synergies to target and achieve sustainable growth. It is encouraging that our early post acquisition network initiatives supported with attractive promotional fares have resulted to a marginal but positive increase of traffic in several domestic destinations already in November 2013 following four consecutive years of traffic decline." [more - original PR]