Greece's Aegean Airlines H1 swings to loss as fuel costs, Middle East weigh

Aegean Airlines

14/09/2026 16:21

Sept 14 (Reuters) - Greek carrier Aegean Airlines AGNr.AT reported a first-half net loss on Monday as higher fuel costs and disruptions linked to geopolitical developments in the Middle East outweighed revenue growth and higher passenger traffic.
The airline posted a net loss of €3.3 million ($3.8 million) in the first half of 2026, compared with a profit of €47.9 million a year earlier, while its pre-tax result swung to a loss of €5.7 million from a profit of €66.0 million.
First-half revenue rose 4% year-on-year to €816.6 million.
Earnings before interest, taxes, depreciation and amortisation (EBITDA) fell 7% on the year to €145.3 million.
The airline posted a net loss of €3.3 million ($3.8 million) in the first half of 2026, compared with a profit of €47.9 million a year earlier, while its pre-tax result swung to a loss of €5.7 million from a profit of €66.0 million.
Passenger traffic in the January-June period was up 3% at 7.8 million.
Aegean said higher fuel prices and emissions allowances had a net negative impact of €40 million, despite hedging benefits.
Chief Executive Dimitris Gerogiannis said in a statement that July-August passenger traffic rose 4.8% with balanced growth across domestic and international networks.
He added that the carrier plans to maintain a disciplined capacity outlook for at least the next six to eight months as jet fuel prices remain twice as high as at the beginning of the year.

($1 = 0.8667 euros)

 (Reporting by Antonis Pothitos; Editing by Tomasz Janowski)
 ((antonis.pothitos@thomsonreuters.com; +48 58 769 65 78;))