Greek airports were forced to cancel flights on 05-May-2010, as air traffic controllers took part in a national strike over wage cuts for civil servants (Harrow Oberserver, 05-May-2010). Monarch Airlines announced (05-May-2010) was forced to reschedule its services to Kos and Rhodes as a result. [more]
Strike forces Greek airports to cancel more flights
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Aegean Airlines cuts capacity for first time since Olympic Air acquisition; 2016 margin falls
In 2017 the Aegean Airlines Group will make its first cut in seat capacity and fleet numbers since 2012. This follows three years of rapid expansion by the group since its Olympic Air acquisition in 2013. Olympic's all turboprop fleet focuses on the domestic market but also helps to feed Aegean's international network, particularly through its Athens hub. Cuts will focus on the domestic market.
Aegean will also make an important longer term fleet decision in 2017, or early 2018. The majority of its aircraft leases will need to be replaced between 2019 and 2023, and it is weighing the options. Aegean currently operates Airbus narrowbodies, but will consider the Boeing 737MAX in addition to the A320neo family.
Aegean's last capacity cut was in 2012, the end of a four year period of losses when Greece was in a deep multi year recession. Since then it has made healthy profits, but while profitable its operating margin fell in 2016 for the second successive year. Greece has experienced rapid capacity growth from LCCs, led by Ryanair. A decline in Aegean's unit revenue over three years has now prompted a pause for what its Executive Vice Chairman has called "consolidation and readjustment".
Brexit and aviation: still no clarity, even as UK government sets timeframe and broad principles
Over seven months after the UK voted in a referendum to leave the European Union, the longer term impact on aviation remains uncertain. The UK Prime Minister Theresa May will almost certainly gain parliamentary authority to trigger Article 50 by her planned deadline of the end of Mar-2017, taking the UK out of the EU by Mar-2019.
On 17-Jan-2017 Mrs May set out 12 principles which will guide the UK in its negotiations with the European Union over the terms of its exit. These principles formed the basis of a White Paper outlining the government's planned approach to the Brexit negotiations. Among other things, the UK does not plan continued membership of the EU Single Market and wishes to control immigration.
There is now a clear timeframe for the Brexit negotiations and a broad framework to guide the UK government in these talks, but still no clarity for aviation. There are obstacles to the UK's continued membership of the European Common Aviation Area, and a bilateral approach may now be more likely. The UK Transport Secretary wants the "best possible access to European aviation markets", but is not yet able to say how that can be achieved.