Ελληνικά
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Turnover increase - operating profits
Wednesday, 18-12-2002
Inspite of the negative international enviroment in air transport Aegean Airlines, three years after the beginning of its scheduled flights and only one year after its merger with Cronus Airlines, succeeded in achieving considerable growth and for the first time operating profits.
Specifically for the year 2002 its turnover will exceed 205 million Euro achieving, thus, a growth of more than double of its numbers in relation to the year 2000 (turnover 70 million Euro) and in the same time an increase of 15% in relation to the year 2001 (as compared with the total turnover of Aegean and Cronus for the same year).
Along with the considerable turnover increase, Aegean succeeded in a reduction of its operational expenses by 8% against 2001 through a restructuring of its network and renegotiation of contracts with its principal suppliers as well as the reorganization of the company itself. It is note worthy that the productivity of passengers per employee has exceeded the level of 2000 (passengers per employee), an achievement absolutely comparable with the European market standards. The total of these resulted in a marginal operating profit which for the year 2002 is estimated at 2 million Euros before depreciation.
For the year 2002 the company operated with an average of 1205 employees and a fleet of sixteen aircraft (7 Boeing 737, 6 Avro Rj 100, 3 ATR72) from which twelve work on scheduled flights while four are covering charter flights on behalf of major tour operators, serving more than 40 destinations mainly in Germany, Italy, England, France and Israel. In total during 2002 the company operated more than 35.000 flights and carried aprox. 2,5 million passengers. In relation to commercial results it is notable that its domestic market-share reached 49% showing an 1,5% increase against last year (Data from BSP/IATA Jan-Nov. 2002). On passengers carried, the company has secured 45% of the domestic destinations covered.
With reference to developments in Olympic Airways the steady position of the Aegean Airlines shareholders is that the privatization of OA is necessary for the rationalizatin of air-transport in Greece. In this direction, the Aegean shareholders wishing to contribute to the privatization effort of OA, submitted recently a letter of Interest for their participation in the tender opened by the Greek state.
Irrespective of the results of such procedures the Aegean shareholders will continue to support the OA effort within the framework of a healthy competitive enviroment compatible with the Greek and European legislation.
According to the company's business plan for the year 2003, there is a possibility of their fleet increase by two additional B 737 and the addition of 2-3 new destinations. In the domestic network the islands of Chios and Kos could be possibly added while the international routes may include Instabul, Larnaca, Sofia and Cairo. For some of the above international destinations, Aegean has repeatedly requested the permit to operate from the Greek CAA.
It should be stressed that the shareholders of Aegean Airlines are seven of the largest and most solvent business groups in Greece and have contributed more than 105 million Euros in the company's own capital.
It is worth mentioning that in 3 years of operation AEGEAN AIRLINES achieved the following:
Roula Saloutsi
Manager, Public Relations and Press Office
AEGEAN AIRLINES572,
Vouliagmenis Avenue,
164 51 Athens, Greece
Tel.: +30 210 9988350, Fax: +30 210 9988329
mail to://saloutsi.roula@aegeanair.com
http://www.aegeanair.com
Specifically for the year 2002 its turnover will exceed 205 million Euro achieving, thus, a growth of more than double of its numbers in relation to the year 2000 (turnover 70 million Euro) and in the same time an increase of 15% in relation to the year 2001 (as compared with the total turnover of Aegean and Cronus for the same year).
Along with the considerable turnover increase, Aegean succeeded in a reduction of its operational expenses by 8% against 2001 through a restructuring of its network and renegotiation of contracts with its principal suppliers as well as the reorganization of the company itself. It is note worthy that the productivity of passengers per employee has exceeded the level of 2000 (passengers per employee), an achievement absolutely comparable with the European market standards. The total of these resulted in a marginal operating profit which for the year 2002 is estimated at 2 million Euros before depreciation.
For the year 2002 the company operated with an average of 1205 employees and a fleet of sixteen aircraft (7 Boeing 737, 6 Avro Rj 100, 3 ATR72) from which twelve work on scheduled flights while four are covering charter flights on behalf of major tour operators, serving more than 40 destinations mainly in Germany, Italy, England, France and Israel. In total during 2002 the company operated more than 35.000 flights and carried aprox. 2,5 million passengers. In relation to commercial results it is notable that its domestic market-share reached 49% showing an 1,5% increase against last year (Data from BSP/IATA Jan-Nov. 2002). On passengers carried, the company has secured 45% of the domestic destinations covered.
With reference to developments in Olympic Airways the steady position of the Aegean Airlines shareholders is that the privatization of OA is necessary for the rationalizatin of air-transport in Greece. In this direction, the Aegean shareholders wishing to contribute to the privatization effort of OA, submitted recently a letter of Interest for their participation in the tender opened by the Greek state.
Irrespective of the results of such procedures the Aegean shareholders will continue to support the OA effort within the framework of a healthy competitive enviroment compatible with the Greek and European legislation.
According to the company's business plan for the year 2003, there is a possibility of their fleet increase by two additional B 737 and the addition of 2-3 new destinations. In the domestic network the islands of Chios and Kos could be possibly added while the international routes may include Instabul, Larnaca, Sofia and Cairo. For some of the above international destinations, Aegean has repeatedly requested the permit to operate from the Greek CAA.
It should be stressed that the shareholders of Aegean Airlines are seven of the largest and most solvent business groups in Greece and have contributed more than 105 million Euros in the company's own capital.
 |
OPERATING DATA 2002 |  |
|
| Flight Hours | 45.120 | ||
| Number of flights | 35.060 | ||
| Seats available | 3.343.700 | ||
| Uplifted pax | 2.420.000 | ||
| Total Revenue | EURO 205.070.000 | ||
| Domestic Revenue | EURO 115.000.000 | ||
| Internation Revenue | EURO 90.230.000 | ||
| Domestic market share | 45% | ||
| Number of employees | 1.205 | ||
| Passengers per employee | 2.008 | ||
It is worth mentioning that in 3 years of operation AEGEAN AIRLINES achieved the following:
- Operate 16 aircraft, twelve of which are utilized in scheduled flights and four are dedicated to charter flights to 60 domestic and international airports.
- Has the highest on-time departure record according to data provided by the Athens International Airport "El. Venizelos".
- Has been awarded as the third best European Air carrier for the year 2000-01.
- Is the second largest user of the Athens International Airport.
- Is the only Greek airline company that gives Internet users the capability to book their travel through www.aegeanair.com.
Roula Saloutsi
Manager, Public Relations and Press Office
AEGEAN AIRLINES572,
Vouliagmenis Avenue,
164 51 Athens, Greece
Tel.: +30 210 9988350, Fax: +30 210 9988329
mail to://saloutsi.roula@aegeanair.com
http://www.aegeanair.com
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