AEGEAN announces its key financial and operating results for the first quarter of 2026.
Consolidated Revenue reached €320,7 mil., 5% higher compared with the first quarter of 2025. Passenger traffic rose by 4%, to 3,2 mil. passengers, in line with the increase in available seat capacity. Load factor stood at 80,8%.
EBITDA reached €46,6 mil., compared to €43,8 mil. in the corresponding period of 2025, while losses after taxes reached €21,7 mil. from losses of €6,6 mil. in the respective period last year. The increase in after-tax losses during the seasonally weak quarter was largely driven by foreign exchange valuation losses amounting to €8,1 mil., compared to gains of €8,3 million in the first quarter of 2025.
Despite the suspension of flights to markets in the Middle East and the sharp increase in fuel costs that burdened March performance, the positive performance recorded during the first two months of the year helped offset the adverse impact, leading to modest growth in both revenue and EBITDA.
During the first quarter of 2026, AEGEAN took delivery of two (2) new A321neo aircraft, with a total of seven (7) A321neo aircraft scheduled for delivery within the first 9 months of the year.
As of March 31st, 2026, Group’s cash, cash equivalents and other financial investments stood at €891,6 mil.[1] following the repayment on March 12th, 2026 of the €200 mil. Common Bond Loan.
Mr. Dimitris Gerogiannis, AEGEAN’s CEO, commented:
“The conflict in the Middle East and the subsequent closure of the Strait of Hormuz have led to a spike in jet fuel prices, creating a challenging environment for the industry throughout 2026. At AEGEAN, we continue to exercise flexibility in our operational planning in order to mitigate the impact on our operating performance, while at the same time supporting our long-term market position and addressing our passenger’s needs.
The impact of increased fuel costs is expected to be more pronounced during the second quarter of the year. Nevertheless, despite the uncertainty generated by the energy crisis and the loss of specific markets, demand for the summer season continues to demonstrate notable resilience.
Despite the challenges in 2026, we remain optimistic about AEGEAN’s prospects. Our consistent investment in a modern new-generation fleet, our strong capital base, our proven ability to adapt, and above all the quality and continuous development of our people, enable us to respond effectively to challenges and to continue to support our growth strategy”.
