AIR TRANSPORT

Pandemic year deals major blow to Aegean turnover

pandemic-year-deals-major-blow-to-aegean-turnover

Aegean, Greece’s biggest airline, reported on Monday a 74% drop in turnover in the fourth quarter of 2020, with flights down 61% and passenger traffic sliding 77% because of the second lockdown.

In an announcement, the carrier said that turnover totaled 415.1 million euros in 2020, down from €1.3 billion in 2019, while passenger traffic totaled 5.17 million, from 15 million, over the same periods, respectively.

The carrier took action to cut costs, manage capital spending and ensure liquidity to deal with the impact of the pandemic.

Aegean expects delivery of its fourth A321neo aircraft in May.