AEGEAN continues its growth momentum in the first half of the year, offering 9,4 million seats, 5% more compared to the first half of 2024, and carrying 7,6 million passengers, an increase of 4% compared to H1-24.
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Domestic passengers rose by 5%, while international passengers grew by 4%, despite the significant impact in May and June from the suspension of flights to Israel, Lebanon and Jordan due to geopolitical developments.
Despite the challenges, particularly during May–June, as well as the increased capacity by a significant number of airlines to Greece, AEGEAN delivered strong financial results. These were driven by effective network management, increased capacity through the gradual deployment of more A321neo and the improvement in the euro/dollar exchange rate, which positively impacted operating costs and the valuation of future aircraft lease liabilities.
Consolidated revenue for the first half of the year amounted to €787,0 million, up 5%. EBITDA increased by 6% to €156,2 million. Profit before tax reached €66,0 million, compared to €31,6 million in the first half of 2024, while Net Profit after tax stood at €47,9 million, versus €22,9 million in the same period of 2024.
In the second quarter, AEGEAN offered 5,5 million seats, just 2% more compared to 2024, mainly due to the two-month impact in operations in the Middle East market, while passenger traffic also increasing by 2%. Load factor stood at 81,4%. Consolidated revenue for the second quarter amounted to €480,9 million, while EBITDA reached €112,4 million. Net profit after tax stood at €54,5 million, up from €43,9 million in the second quarter of 2024.
Cash and cash equivalents, including financial assets, increased to €841,9 million as of June 30, 2025, compared to €769,1 million on December 31, 2024, despite the payment of a €72,1 million dividend to shareholders on May 26, 2025. It is noted that the cash position does not include the additional liquidity from the issuance of the new bond loan in early July 2025.
In 2025, AEGEAN is increasing its fleet by adding 6 new aircraft. Three Airbus A320 / A321neo have already been delivered, while 2 additional Airbus A321neo and 1 new ATR 72-600 are expected during the last 4 months of the year.
