Greek airline AEGEAN has reported a net profit of €54.5 million in the second quarter of the year, marking a 24% increase. For the first half of the year, net profits were up 109% to €47.9 million.
Pre-tax profits were up 27% to €73.5 million in the quarter, and up 109% to €66 million in the first half.
EBITDA was down 2% in the quarter to €112.4 million, though up 6% in the first half to €156.2 million. Revenue was up 5% in the first half to €787 million, but flat in the quarter — standing at €480.9 million.
“In the first half of 2025, AEGEAN delivered strong financial results despite significant geopolitical challenges that limited access to key markets, particularly in the second quarter,” said AEGEAN CEO Dimitris Gerogiannis.
“Travel demand to and from Greece remains strong, with growth driven from both Greek travellers and international visitors, while demand is gradually strengthening even during traditionally weaker months,” said Gerogiannis.
He added that the airline is facing increasing competition from other airlines in its market.
“In this context, our investments in training infrastructure and in further developing the capabilities of our people, as well as the fact that all 26 Airbus aircraft we are expecting to be delivered are of the larger version A321neo, are key factors in strengthening our competitiveness,” continued Gerogiannis.
The airline expects a cycle of accelerated inspections of the GTF engines to be completed over the next 24 to 28 months. This will gradually return all new aircraft it has received to full operational capacity, which will further improve units costs and growth potential. The company is awaiting six A321XLR/LR aircraft over the same period, which will open opportunities in more distant markets for AEGEAN.
The airline carried 4.5 million passengers in the second quarter, up 2%, and 7.6 million in the first half, up 4%. Capacity was up 4% in the first half, with load factor down 0.3 percentage points to 81.1%. Second quarter capacity was down 1%, with load factor up 0.3 percentage points to 81.4%.
As of the end of the first half, the company had a net debt of €525.7 million and a net debt to EBITDA ratio of 1.3x.