Aegean Airlines 1H2009 revenue up 5%

Aegean Airlines revenue up 5% - financial highlights for the six months ended 30-Jun-2009:

• Revenue: EUR275.4 million, +5% year-on-year;
• EBITDAR: EUR42.5 million, +43%;
• EBITDA: EUR13.3 million, +52%;
• Profit before tax: EUR18.2 million, +135%;
• Net profit: EUR13.4 million, +143%;
• Passenger numbers: 2.9 millions, +9%;
  • Domestic: 1.7 million, +3%;
  • International: 1.3 million, +20%.

Aegean Airlines: "The conditions prevailing in the European airline sector continue to be challenging and are characterized by demand weakness and strong yield reduction, whose effect is greater than the benefits derived from lower fuel costs. Under current market environment, accurate future forecasts of our financial performance are very difficult. At a time when the largest airline companies in Europe are reporting significant losses, AEGEAN during the first half of 2009 has taken delivery of 8 new aircraft, paid dividends of EUR18 million and at the same time improved its cash reserves by EUR43 million reaching EUR226 million available cash at the end of June 2009," Dimitris Gerogiannis, Managing Director. Source: Aegean Airlines, 28-Aug-2009.