AEGEAN announced that total passenger traffic for the first quarter of 2025 reached 3.1 million, representing an 8% increase compared to the same period in 2024. International passenger traffic grew by an impressive 12%, while the load factor rose to 80.6%.
The Group's revenue for the quarter reached €306.0 million, reflecting a 14% year-over-year increase. This growth was driven by strong demand, which also supported a significant rise in EBITDA, reaching €43.8 million, a 32% increase—marking the highest first-quarter EBITDA performance in the company's history.
Operating profitability improved notably, with EBIT losses reduced to €2.6 million, down from €7.2 million in Q1 2024. Net losses after tax also narrowed substantially to €6.6 million, compared to €21.0 million in the same quarter of the previous year. Additionally, the appreciation of the US dollar positively impacted the valuation of future aircraft lease obligations, contributing further to the bottom line.
AEGEAN maintained a robust liquidity position, with cash, cash equivalents, and financial investments totaling €796.1 million as of March 31, 2025. This figure includes the cash-funded delivery of a new Airbus A320neo in March.
CEO Dimitris Gerogiannis commented:
“The first quarter of 2025 reflects the strong momentum of our strategic path. We achieved significant growth in passenger traffic, particularly in international markets, and flew certain routes more frequently in the winter than in the summer for the second consecutive year. Our operational performance reached record levels, with the highest Q1 EBITDA in AEGEAN’s history, while seasonal losses were significantly contained.
The ongoing recovery in demand from Greek travelers and the gradual extension of the tourist season—especially in Athens and Thessaloniki—enable us to operate more intensively throughout the year. Investing in the winter season is indeed costly and takes time to mature, but it is essential for both AEGEAN and the country.
We continue to invest in our fleet, with six new aircraft scheduled for delivery in 2025, including three Airbus A321neo, two Airbus A320neo, and one ATR 72-600. At the same time, we are expanding our network by adding new routes, enhancing connectivity and our presence in strategic markets.”
For the full year 2025, AEGEAN plans to offer 21.2 million seats, representing an increase of 1.5 million seats compared to 2024.
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