AEGEAN recorded strong growth and profitability in the nine- month period and the third quarter of 2023 as a result of investment in new destinations, increased capacity in the overseas network and consistent strategic upgrading of the fleet and services.
According to the financial results, the consolidated turnover for the nine months of 2023 amounted to 1.33 billion euros, up 31% compared to the corresponding period of 2022.
In the third quarter of 2023, consolidated turnover rose by 14% to 653.6 million euros. Profit before tax stood at 168.8 million euros and profit after tax at 133.6 million euros, setting a new record high.
Passenger traffic up 17%
The strong momentum of passenger traffic continued, recording a 17% increase compared to the third quarter of 2022, carrying a total of 5.5 million passengers, a result of both AEGEAN’s greatly expanded network, operating with the largest international network of destinations in its history, as well as significant investment in increasing capacity with 15% more seats compared to the third quarter of 2022, supporting the increased attractiveness of the Greek tourism product.
Mr. Dimitris Gerogiannis, CEO, underlined: “AEGEAN achieved high profitability presenting one of the best results in the sector for the nine-month period of 2023. The expansion of our network, the increase in the capacity offered by almost 3 million more available seats compared to last year, combined with strong demand for Greece contributed to our strong growth momentum.
It is particularly important that following the excellent performance of 2022, a second year follows that confirms the company’s strategic choices, capabilities and relative position in the market, in the post-covid era.
However, recent developments in the Middle East indicate that we will continue to operate in a highly dynamic and volatile environment where conditions and predictability will remain difficult.
In the operational field, it is evident that difficulties will continue to exist both in infrastructure and in the supply chain that will significantly affect the operation.”
