BUSINESS

Rise in traffic, seat occupancy rate contains Aegean’s losses

TAGS: Tourism, Travel

The increase in passenger traffic and the strengthening of the seat occupancy rate during the traditionally weak first quarter of the year served to limit the Aegean Air group’s losses.

The carrier’s turnover grew 9 percent year-on-year in the January-March period to reach 165.4 million euros, while passenger traffic climbed 12 percent to 2.4 million.

Net losses fell to 30.8 million euros from 35.8 million a year earlier.

The Aegean group provided 7 percent more seats in the first three months of 2018, conducting 3 percent more flights.

Average occupancy came to 91.2 percent, up from 76.8 percent, despite the increase in flights.

The increase in passenger traffic was a result of the 16 percent increase on international flights and the 9 percent expansion on domestic flights.

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