Aegean’s landmark year notes 14% passenger increase

Aegean Airlines reported a 14% increase in passenger traffic with more than 10.1 million passengers in 2014. The carrier’s consolidated revenues reached 912 million euros in 2014, up 7% from 2013. Net profits were at 80.2 million euros, rising sharply from 52.5 million euros in 2013, helped by an 11.7 million euros in tax provisions.

The Aegean Board of Directors is now seekign shareholders approval to a plan to pay a 0.70 euro per share dividend to shareholders thanks to cash flows that reached 112 million euros and cash reserves rising 218 million euros despite significant advance payments made for the purchase of new Airbus aircraft. Domestic passenger traffic rose 15% to 5.240 million from 4.549 million people in 2013. Flight occupancy rate was at 78.3%.

Aegean Chief Executive said 2014 was a “landmark year.” “We proved that joining forces offers benefits and create value for passenger, the country’s economy, employment and of course to our shareholders,” he said.

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