Aegean Airlines Ord (AGZNF) Q2 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

Hello. Good afternoon, everybody, and welcome to our results presentation for the first six months of 2025. Just to remind that, along with me, I have Mr. Koubeliotis, our Deputy CEO and CFO, Stella Dimaraki, our Treasurer and Investor Relations Director, and also Ante Catalani, our Investors Relations Manager. So all four of us are here for you. I'm happy to answer any questions after my brief remarks. 2025, first half is again a quarter and two quarters where we had, I would say, modest growth driven by our particular restrictions in terms of how many of our NEO aircraft are actually flying versus the ones grounded for GTF. And within the confines of those restrictions, the additional challenge of around two months in the second quarter, where our important nearby markets, Israel, Lebanon, Israel in particular, Lebanon and Jordan, we were not able to fly to due to the situation there, what's going on between Israel and Iran. and the effect it had to the whole area and our inability to fly for around about two, two and a half months, which ended on the second week of July, if memory serves. So, within the restrictions that we had, I think we've achieved a very strong set of results. We've managed to provide a revenue increase of 5%, which is 1% higher than the ASK growth we put into the market, which was 4%, which meant that within an increasingly competitive environment, we have managed to actually increase our ask marginally by 1%. This was done in both quarters. In terms of growth, as you have already seen, the first quarter was significantly stronger in terms of ASK development versus the second. That is part of two things, one planned and one unplanned. First of all, we have indicated also in previous conversations and discussions with you that we see a gradual...