Losses for Aegean, stock tumbles

As ash from an Icelandic volcano grounds air traffic throughout northern Europe, Aegean Airlines is losing as much as 600,000 euros a day in revenues from canceled flights, the company said yesterday. Aegean Air spokeswoman Roula Saloutsi said the airline estimated the cancellations to amount to some 60 percent of international flights, accounting for about 500,000 euros a day since the ash cloud halted flights across Europe on April 15. ‘An additional 100,000 euros comes from the impact of lost domestic travel and connections,’ she told Bloomberg. Shares in the airline plummeted 7.08 percent yesterday to 3.15 euros.

Subscribe to our Newsletters

Enter your information below to receive our weekly newsletters with the latest insights, opinion pieces and current events straight to your inbox.

By signing up you are agreeing to our Terms of Service and Privacy Policy.