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    AEGN   GRS495003006

AEGEAN AIRLINES S.A.

(AEGN)
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Aegean Airlines S A : carried more than 2.3 million passengers in July and August

09/09/2021 | 09:02am EST

70% growth in passenger traffic Vs 2020, whereas overall load factor and passenger traffic continue to remain behind compared to 2019


AEGEAN recorded a significant recovery in passenger traffic during July and August carrying more than 2.3 million passengers (+70% growth in passenger traffic compared to the same period in 2020) and offering a total of 3.2 million seats since the removal of travel restrictions, the widespread use of the Digital Green Certificate in the EU and the dynamic tourism restart.

AEGEAN carried more that 1.2 million passengers through its international network (+108% growth Vs 2020) and more than 1 million passengers in its domestic network (+39% Vs 2020), while it is noted that during July and August, the passengers that the airline carried, exceeded the total numbers in the previous six months/ since the beginning of the year.

Moreover, the year-on-year load factor, was improved and currently totals to 71,7%. However, the specific index in the respective 2019 period remains behind reaching 87.2% as the international market in terms of flights offered to Greece recovered at a greater level than the increase in passenger demand.

It should be mentioned that significant increase both in passenger traffic and load factors were recorded on operations to and from Thessaloniki, Heraklion as well as the new base in Corfu.

Dimitris Gerogiannis, AEGEAN CEO said: 'Through our network and operations, following the removal of travel restrictions and the implementation of the Digital Green Certificate across the EU, we have contributed the recovery of tourism in Greece.

Immediately after the lifting of the travel restrictions. Greece is one of the destinations that, compared to other countries, won the bet of recovery. However, the persistence of the pandemic alongside the remaining restrictions on major markets such as Russia, Israel and the UK, had an impact on the load factor. Truth is we have crossed the turning point in passenger traffic recovery, but we certainly still have significant difficulties and uncertainties to face. Our investments continue as planned and we remain cautiously optimistic for the gradual return to the new normality'.

July - August 2021July - August 2021
July - August 2020 (%)July - August 2020
(%)
Total Passenger Traffic AEGEAN & Olympic Air
Domestic
July - August 20211,073,982
July - August 2020 (%)+39%
International
July - August 20211,241,572
July - August 2020 (%)+108%
Total network July - August 20212,315,554 July - August 2020 (%)+70%
Load factor*
Domestic
July - August 202174.8%
July - August 2020 (%)+0.7%(μβ.)
International
July - August 202169.2%
July - August 2020 (%)+4.8%(μβ.)
Total network July - August 202171.7% July - August 2020 (%)+2.2%(μβ.)
*Scheduled Revenue passenger km divided by Available Seat km.


Disclaimer

Aegean Airlines SA published this content on 09 September 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 09 September 2021 13:01:04 UTC.


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Sales 2021 650 M 724 M 724 M
Net income 2021 60,0 M 66,8 M 66,8 M
Net Debt 2021 282 M 314 M 314 M
P/E ratio 2021 13,9x
Yield 2021 -
Capitalization 487 M 543 M 542 M
EV / Sales 2021 1,18x
EV / Sales 2022 0,91x
Nbr of Employees 2 699
Free-Float 38,0%
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Number of Analysts 5
Last Close Price 5,40 €
Average target price 6,95 €
Spread / Average Target 28,7%
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Managers and Directors
Dimitrios Christodoulou Gerogiannis CEO, Executive Director & Managing Director
Michael Kouveliotis Chief Financial Officer
Eftichios Theodorou Vassilakis Executive Chairman
Konstantinos Alexandrou Kalamatas Independent Non-Executive Director
Natalia Nikolaidis Independent Non-Executive Director
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