Greece's Aegean Air Traffic Up 25.3 Percent
January 27, 2005
Privately held Greek carrier Aegean Airlines said on Thursday its 2004 passenger traffic grew 25.3 percent year-on-year, continuing to gain market share from other carriers flying out of Athens International Airport (AIA).
Aegean, which flies domestic and European routes, said its fleet of 19 aircraft carried a total of 3.576 million passengers last year while its number of flights increased 20 percent.
The carrier expects to report profit of more than EUR7 million (USD$9.1 million) for fiscal 2004 -- its sixth operating year. It posted net earnings of EUR6.1 million in 2003.
"Despite the rise in fuel prices and lower fares, in 2004 we achieved economies of scale and innovative services for our clients," said Chief Executive Theodore Vassilakis.
Aegean was voted airline of the year for 2004 by the European Regional Airlines Association (ERA).
Traffic on routes to Germany, Italy, Cyprus and Macedonia rose 26 percent year-on-year. Aegean's market share in Cyprus exceeded 30 percent in the last two months of 2004.
Aegean said its overall market share among the 60 carriers flying from AIA rose to 21 from 16.7 percent in 2003.
Aegean, which has code-sharing agreements with Italy's Air One and Alpi Eagles, is considering further expansion to Balkan destinations and has sought permission from the Greek government to add flights to Istanbul, Sofia, Belgrade and Cairo.