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Cautiously optimistic for this summer season | TheGreekDeal.com
Aegean Airlines
Cautiously optimistic for this summer season
With an improved summer program, AEGEAN has launched the 2024 summer season, "investing" in its global and local networks.
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Dimitris Gerogiannis, CEO Aegean

Aegean's management is cautiously optimistic for this summer season but more generally for passenger traffic in 2024. In order to respond to the increased demand but also to the fierce competition that the Greek airline faces in the more than 155 destinations it serves, it is continuing its development program.

This focuses on strengthening existing markets in Western Europe but also on expanding into new markets, mainly in the East of India, the Arabian Gulf, and some Central African countries. In particular, according to the CEO of Aegean, Dimitris Gerogiannis, the company is investing in more routes in European markets, e.g., additional flights and higher load factors in flights to and from.

It is noted that April and the first half of May showed a capacity increase of 12%–15%. In detail, between November 2023 and March 2024, there was a 6% increase in the frequency of domestic flights and 10% for international flights, with load factors remaining high at around 80%–81%. 

The company's aim is to extend the period. Due to the Catholic Easter, the airline saw a 12% increase in seats available on international flights in April, with an 80% occupancy rate. Domestically, the increase was 5%, with an 80%–81% occupancy rate, although this compares to one month last year, which was Easter. The first half of this month also did very well, as mentioned above.

Regarding the company's outlook, Mr. Gerogiannis said, among other things, that "no year is the same as the previous one and it will not be the same as the next one. We fly to over 150 destinations and face up to 80 competitors. We have at least one low cost competitor and one full service competitor on each of our overseas routes - we stand up to them just fine."

 

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