Aegean contains losses in first quarter

Aegean Airlinessaw an improvement in its first-quarter results as it has trimmed its losses from 31.2 million euros last year to 8.2 million euros in the January-to-March period.

Turnover posted an 11 percent increase year-on-year, reaching 115.9 million euros from 104.6 million euros last year.

After-tax losses amounted to 1.23 million euros, against 24.9 million euros a year earlier.

According to the carrier’s statement on Monday, the improved results are attributed to the increase in seat occupancy rates on its international flights and its efforts to cut operating costs.