AEGEAN Reports Continued Growth with Strong Performance in Q1 2025
The company has showcased solid results in the typically slower first quarter of 2025, underscoring its dedication to expanding winter capacities to help mitigate the seasonal fluctuations of the Greek market.
Total passenger numbers reached 3.1 million, marking an 8% increase from 2024, while international traffic soared by 12%. The load factor was recorded at 80.6%.
Revenue for the quarter hit 306.0 million euros, a 14% rise compared to the same period last year. This strong demand bolstered EBITDA, which rose to 43.8 million euros—a 32% increase—marking the highest first-quarter EBITDA in AEGEAN’s history.
Operational improvements were evident at the EBIT level, with losses decreasing to 2.6 million euros from 7.2 million euros in Q1 2024. Net losses after tax also saw a significant reduction, narrowed to 6.6 million euros from 21.0 million euros in 2024.
AEGEAN maintained a robust liquidity position, with cash equivalents and financial investments totaling 796.1 million euros as of March 31, 2025. This includes the acquisition of a new A320neo aircraft, fully financed through internal funds in March 2025.
Dimitris Gerogiannis, AEGEAN’s CEO, stated:
“The Q1 2025 results reflect AEGEAN’s strategic focus and growth momentum. We’ve strengthened our passenger traffic, particularly on international routes, and increased winter frequencies for the second consecutive year to certain destinations. Our operational results have improved, achieving the highest EBITDA in our history, while reducing seasonal losses significantly during this traditionally weaker quarter.
The recovery in local demand, coupled with the gradual extension of the tourist season—especially in Athens and Thessaloniki—enables us to operate more effectively over an expanding timeline.
Investing in winter operations is costly and takes time to yield results but is vital for AEGEAN and the broader Greek economy.
We remain committed to fleet expansion, with six aircraft deliveries planned for 2025, including three Airbus A321neo, two Airbus A320neo, and one new ATR 72-600. Additionally, we are broadening our network with new routes to enhance connectivity and strengthen our presence in key destinations.”
