Greece's Aegean Airlines reported a 10% increase in EBITDA for the third quarter of 2025, reaching €200.4 million.
The company's EBIT was up 8% to €147.7 million. This was supported by a 3% increase in revenues, reaching €647.1 million.
“Demand for air travel remains robust, supported by strong Greek passengers’ demand as well additional visitors to our country, while passenger goodwill continues to be strengthened through our investments in our product and services,” said Aegean CEO Dimitris Gerogiannis.
Net profit and pre-tax profit were both down 7% to €100.4 million and €128.7 million, respectively. The dip in profits was largely attributed to negative currency exchange impacts to the US dollar, impacting the valuation of future aircraft lease liabilities.
The airline still achieved profitability despite currently being in the “peak” of GTF engine inspections.
“It is now a full two years since Aegean's cost structure started to be affected by the mandatory early inspections on the GTF engines of our A320neos,” said Gerogiannis. “Currently we are at the peak of this cycle, with 12 aircraft temporarily out of operation.”
The company said that, according to communication with Pratt & Whitney, the cycle is estimated to continue for another 30 months, with a gradual reduction in the number of aircraft on ground (AOG) from autumn 2026.
Unit revenue and yield were flat, remaining at 9.4 cents and 11.2 cents, respectively. Unit costs were up 3% to 7.6 cents and, excluding fuel, were up 6% to 6 cents.
During the third quarter, the airline carried 5.6 million passengers, up 6% on the same period last year. Capacity was up 3%, while load factor was up 0.4 percentage points to 84.3%.
For the fourth quarter, the airline plans to increase seat capacity by 9% through enhanced frequencies on both domestic and international routes, as well as new destinations. These new routes will mainly fly to the Middle East.
Net debt totalled €588.8 million as of the end of the third quarter. Net debt to EBITDA was 1.4x.