Positive but reduced profitability in the second quarter impacted by higher fuel costs and operational disruption in the Middle East.
7,8 mil. passengers in the first half of the year, with passenger traffic up 3% and revenue increasing by 4%, despite a challenging operating environment.
AEGEAN announces its operating and financial results for the Second Quarter and First Half 2026.
Consolidated revenue for the first half of 2026 amounted to €816,6 mil., up 4% compared with 2025, reflecting resilient travel demand and revenue per ASK remaining broadly stable, albeit without the increase required to offset higher fuel costs. Geopolitical developments in the Middle East disrupted parts of the international network, with flights suspended for four months, from March to June, while the particularly sharp increase in fuel costs continued to place significant pressure on profitability.
AEGEAN carried 7,8 mil. passengers in the first half of 2026, representing a 3% increase compared with the first half of 2025, in line with the growth in available seats, which reached 9,7 mil. Domestic traffic grew by 6% compared with first half of 2025, supported by continued momentum across Greek destinations. International traffic remained broadly flat, as geopolitical developments in the Middle East from March onwards affected both the ability to operate flights across parts of the network and demand for connecting traffic to and from the region through AEGEAN's main hub in Athens. The load factor stood at 80,3%.
Second-quarter revenue increased 3% to €495,8 mil., with capacity in ASKs broadly unchanged. AEGEAN carried 4,5 mil. passengers, up 1%, and reported EBITDA of €98,8 mil. and profit after tax of €18,5 mil.
EBITDA amounted to €145,3 mil., 7% lower than in the first half of 2025, while the Group reported a pre-tax loss of €5,7 mil. and a net loss of €3,3 mil. Revenue growth was not sufficient to offset higher cost pressures mainly due to higher fuel costs. The overall net impact from higher fuel prices and emissions allowances amounted to €40,0 mil., after the significant benefit from hedging contracts. In addition, compared with 2025, results were adversely affected by foreign exchange valuation losses of €14,1 mil., compared with gains of €30,6 mil. in the first half of 2025.
In the first half of 2026, the Group took delivery of 5 new Airbus A321neo aircraft, bringing the total number of Airbus neo family deliveries to 43 aircraft, of which 21 are A320neo and 22 are A321neo, and it is expected to take delivery of 2 more A321neo aircraft by the end of September.
The Group maintained a strong liquidity position, with cash, cash equivalents and other financial investments of €956,1 mil. as at 30 June 2026, higher by €114,0 mil. compared with 30.06.2025, following the payment of a total dividend of €81,1 mil. for the 2025 financial year, corresponding to €0,90 per share, on 05.05.2026.
Mr. Dimitris Gerogiannis, AEGEAN's CEO, commented:
"The first half of the year was shaped by the initial impact of the war in the Middle East. The outcome was constrained operations across parts of the network in the area, while higher key input costs weighed on the Company's financial performance. Yields remained stable but also did not increase to offset the rise in fuel costs.
Demand in July and August has been satisfactory, with AEGEAN recording a 4,8% increase in passenger traffic, with balanced growth across both the domestic and international networks.
The Group remains committed to the flexible management of its capacity, enabling it to respond effectively to market needs and our passengers' preferences. Given that jet fuel prices remain twice as high as at the beginning of the year, the Company plans to maintain a highly disciplined capacity outlook for at least the next 6-8 months.
The Group continues to invest in new aircraft, the ongoing enhancement of its products and services and the expansion of its network through new destinations, supporting its competitive position and long-term strategy".
AEGEAN's management will host a conference call to present and discuss First Half 2026 Financial Results on Tuesday, 15 September 2026 (15:00 Athens time, 13:00 GMT).
Details are available at: http://en.about.aegeanair.com/investor-relations/announcements/announcements
Financial Results and Operating Metrics for the Second Quarter & First Half 2026
Note:
1 Earnings/(Loss) before interest, tax, depreciation and amortization (EBITDA)
Net Debt Analysis
AEGAN at a glance
Notes:
1 Earnings before interest, tax, depreciation and amortization (EBITDA).
2 Revenue per Available Seat Kilometer, excluding other operating income, excluding ATCOM.
3 Revenue per Passenger Kilometer, excluding other operating income, excluding ATCOM.
4 Cost per Available Seat Kilometer, excluding other operating income, excluding ATCOM.
Consolidated Income Statement - Second Quarter and First Half 2026
Note:
The results for the first half of 2026 include the full consolidation of the 100% subsidiary ICT, which owns 100% of the company ATCOM.
ATCOS's Revenue and Pre-tax Profit for the first half of 2026 amounted to €11,5 mil. and €1,86 mil. respectively. The full consolidation contributed revenue of €7,1 mil. and Profit before tax of €314,7 thous. to the Group.
Balance Sheet Aegean Group- Summary
Cash Flow Aegean Group - Summary
Note:
1 Includes restricted deposits and financial assets.
Group operating figures
| (in € mil.)(in € mil.)(in € mil.)(in € mil.) | Second Quarter 2025Second Quarter 2025Second Quarter 2025Second Quarter 2025 | Second Quarter 2026Second Quarter 2026Second Quarter 2026Second Quarter 2026 | % change% change% change% change | First Half 2025 First Half 2025First Half 2025 First Half 2025 | First Half 2026 First Half 2026First Half 2026 First Half 2026 | % change% change% change% change |
| (in € mil.)(in € mil.)(in € mil.)Revenue | Second Quarter 2025Second Quarter 2025Second Quarter 2025480,9 | Second Quarter 2026Second Quarter 2026Second Quarter 2026495,8 | % change% change% change3% | First Half 2025 First Half 2025First Half 2025787,0 | First Half 2026 First Half 2026First Half 2026 816,6 | % change% change% change 4% |
| (in € mil.)(in € mil.)(in € mil.)EBITDA1 | Second Quarter 2025Second Quarter 2025Second Quarter 2025112,4 | Second Quarter 2026Second Quarter 2026Second Quarter 202698,8 | % change% change% change-12% | First Half 2025 First Half 2025First Half 2025 156,2 | First Half 2026 First Half 2026First Half 2026 145,3 | % change% change% change -7% |
| (in € mil.)(in € mil.)(in € mil.)EBIT | Second Quarter 2025Second Quarter 2025Second Quarter 202561,5 | Second Quarter 2026Second Quarter 2026Second Quarter 202643,6 | % change% change% change-29% | First Half 2025 First Half 2025First Half 2025 58,9 | First Half 2026 First Half 2026First Half 2026 38,5 | % change% change% change-35% |
| (in € mil.)(in € mil.)(in € mil.)Pre-tax Profit/(Loss) | Second Quarter 2025Second Quarter 2025Second Quarter 202573,5 | Second Quarter 2026Second Quarter 2026Second Quarter 202622,7 | % change% change% change-69% | First Half 2025 First Half 2025First Half 2025 66,0 | First Half 2026 First Half 2026First Half 2026 (5,7) | % change% change% change - |
| (in € mil.)(in € mil.)(in € mil.)Net Profit/(Loss) | Second Quarter 2025Second Quarter 2025Second Quarter 202554,5 | Second Quarter 2026Second Quarter 2026Second Quarter 202618,5 | % change% change% change-66% | First Half 2025 First Half 2025First Half 2025 47,9 | First Half 2026 First Half 2026First Half 2026 (3,3) | % change% change% change - |
1 Earnings/(Loss) before interest, tax, depreciation and amortization (EBITDA)
| First Quarter 2025First Quarter 2025First Quarter 2025First Quarter 2025 | First Quarter 2026First Quarter 2026First Quarter 2026First Quarter 2026 | % change% change% change% change | First Half 2025First Half 2025First Half 2025First Half 2025 | First Half 2026First Half 2026First Half 2026First Half 2026 | % change% change% change% change | |
| Total Passengers ('000) | First Quarter 2025First Quarter 2025First Quarter 2025 4.479 | First Quarter 2026First Quarter 2026First Quarter 2026 4.538 | % change% change% change1% |
First Half 2025First Half 2025First Half 20257.572 | First Half 2026First Half 2026First Half 20267.768 | % change% change% change3 % |
| RPKs (in mil.) | First Quarter 2025First Quarter 2025First Quarter 2025 4.656 | First Quarter 2026First Quarter 2026First Quarter 2026 4.601 | % change% change% change-1% | First Half 2025First Half 2025First Half 20257.999 | First Half 2026First Half 2026First Half 2026 8.090 | % change% change% change1 % |
| ASKs (in mil.) | First Quarter 2025First Quarter 2025First Quarter 2025 5.723 | First Quarter 2026First Quarter 2026First Quarter 2026 5.727 | % change% change% change0 % |
First Half 2025First Half 2025First Half 20259.883 | First Half 2026First Half 2026First Half 2026 10.091 | % change% change% change2 % |
| Load Factor (RPK/ASK) | First Quarter 2025First Quarter 2025First Quarter 2025 81,4% | First Quarter 2026First Quarter 2026First Quarter 2026 80,3% | % change% change% change-1,1pp |
First Half 2025First Half 2025First Half 202581,1% | First Half 2026First Half 2026First Half 2026 80,3% | % change% change% change-0,8pp |
Net Debt Analysis
| (in € mil.)(in € mil.)(in € mil.)(in € mil.) | 31.12.202531.12.202531.12.202531.12.2025 | 30.06.202630.06.202630.06.202630.06.2026 |
|
(in € mil.)(in € mil.)(in € mil.) | ||
| (in € mil.)(in € mil.)(in € mil.)Cash and cash equivalents | 31.12.202531.12.202531.12.2025955,1 | 30.06.202630.06.202630.06.2026956,1 |
| (in € mil.)(in € mil.)(in € mil.)Borrowings | 31.12.202531.12.202531.12.2025664,2 | 30.06.202630.06.202630.06.2026518,3 |
| (in € mil.)(in € mil.)(in € mil.)Lease Liabilities | 31.12.202531.12.202531.12.2025971,1 | 30.06.202630.06.202630.06.20261.114,2 |
| (in € mil.)(in € mil.)(in € mil.)Net Debt | 31.12.202531.12.202531.12.2025680,2 | 30.06.202630.06.202630.06.2026676,4 |
|
(in € mil.)(in € mil.)(in € mil.) | ||
| (in € mil.)(in € mil.)(in € mil.)Net Debt/ (Net Cash) excluding Lease Liabilities | 31.12.202531.12.202531.12.2025(290,9) | 30.06.202630.06.202630.06.2026(437,8) |
|
(in € mil.)(in € mil.)(in € mil.) | ||
| (in € mil.)(in € mil.)(in € mil.)EBITDA1 -12m trailing | 31.12.202531.12.202531.12.2025421,5 | 30.06.202630.06.202630.06.2026410,6 |
| (in € mil.)(in € mil.)(in € mil.)Net Debt / ΕBITDA | 31.12.202531.12.202531.12.20251,6x | 30.06.202630.06.202630.06.20261,6x |
AEGAN at a glance
| (in € mil.)(in € mil.)(in € mil.)(in € mil.) | Second Quarter 2025Second Quarter 2025Second Quarter 2025Second Quarter 2025 | Second Quarter 2026Second Quarter 2026Second Quarter 2026Second Quarter 2026 | % change% change% change% change | First Half 2025First Half 2025First Half 2025First Half 2025 | First Half 2026First Half 2026First Half 2026First Half 2026 | % change% change% change% change |
| (in € mil.)(in € mil.)(in € mil.)Revenue | Second Quarter 2025Second Quarter 2025Second Quarter 2025480,9 | Second Quarter 2026Second Quarter 2026Second Quarter 2026495,8 | % change% change% change3% | First Half 2025First Half 2025First Half 2025787 | First Half 2026First Half 2026First Half 2026816,6 | % change% change% change4% |
| (in € mil.)(in € mil.)(in € mil.)EBITDA1 | Second Quarter 2025Second Quarter 2025Second Quarter 2025112,4 | Second Quarter 2026Second Quarter 2026Second Quarter 202698,8 | % change% change% change-12% | First Half 2025First Half 2025First Half 2025156,2 | First Half 2026First Half 2026First Half 2026145,3 | % change% change% change-7% |
| (in € mil.)(in € mil.)(in € mil.)EBIT | Second Quarter 2025Second Quarter 2025Second Quarter 202561,5 | Second Quarter 2026Second Quarter 2026Second Quarter 202643,6 | % change% change% change-29% | First Half 2025First Half 2025First Half 202558,9 | First Half 2026First Half 2026First Half 202638,5 | % change% change% change-35% |
| (in € mil.)(in € mil.)(in € mil.)Pre-tax Profit/(Loss) | Second Quarter 2025Second Quarter 2025Second Quarter 202573,5 | Second Quarter 2026Second Quarter 2026Second Quarter 202622,7 | % change% change% change-69% | First Half 2025First Half 2025First Half 202566 | First Half 2026First Half 2026First Half 2026-5,7 | % change% change% change- |
| (in € mil.)(in € mil.)(in € mil.)Net Profit/(Loss) | Second Quarter 2025Second Quarter 2025Second Quarter 202554,5 | Second Quarter 2026Second Quarter 2026Second Quarter 202618,5 | % change% change% change-66% | First Half 2025First Half 2025First Half 202547,9 | First Half 2026First Half 2026First Half 2026-3,3 | % change% change% change- |
| (in € mil.)(in € mil.)(in € mil.)Total passengers ('000) | Second Quarter 2025Second Quarter 2025Second Quarter 20254.479 | Second Quarter 2026Second Quarter 2026Second Quarter 20264.538 | % change% change% change1% | First Half 2025First Half 2025First Half 20257.572 | First Half 2026First Half 2026First Half 20267.768 | % change% change% change3% |
| (in € mil.)(in € mil.)(in € mil.)Available Seats ('000) | Second Quarter 2025Second Quarter 2025Second Quarter 20255.516 | Second Quarter 2026Second Quarter 2026Second Quarter 20265.677 | % change% change% change3% | First Half 2025First Half 2025First Half 20259.374 | First Half 2026First Half 2026First Half 20269.685 | % change% change% change3% |
| (in € mil.)(in € mil.)(in € mil.)ASKs (in mil.) | Second Quarter 2025Second Quarter 2025Second Quarter 20255.723 | Second Quarter 2026Second Quarter 2026Second Quarter 20265.727 | % change% change% change0% | First Half 2025First Half 2025First Half 20259.883 | First Half 2026First Half 2026First Half 202610.091 | % change% change% change2% |
| (in € mil.)(in € mil.)(in € mil.)Average passengers per flight | Second Quarter 2025Second Quarter 2025Second Quarter 2025126 | Second Quarter 2026Second Quarter 2026Second Quarter 2026126 | % change% change% change0% | First Half 2025First Half 2025First Half 2025126 | First Half 2026First Half 2026First Half 2026126 | % change% change% change0% |
| (in € mil.)(in € mil.)(in € mil.)Load factor- Scheduled Services (Pax/AVS) | Second Quarter 2025Second Quarter 2025Second Quarter 202581,40% | Second Quarter 2026Second Quarter 2026Second Quarter 202680,10% | % change% change% change-1,3pp | First Half 2025First Half 2025First Half 202581,00% | First Half 2026First Half 2026First Half 202680,40% | % change% change% change-0,6pp |
| (in € mil.)(in € mil.)(in € mil.)Load factor- Scheduled Services (RPK/ASK) | Second Quarter 2025Second Quarter 2025Second Quarter 202581,40% | Second Quarter 2026Second Quarter 2026Second Quarter 202680,30% | % change% change% change-1,1pp | First Half 2025First Half 2025First Half 202581,10% | First Half 2026First Half 2026First Half 202680,30% | % change% change% change-0,8pp |
| (in € mil.)(in € mil.)(in € mil.)Average sector length (km) | Second Quarter 2025Second Quarter 2025Second Quarter 2025893 | Second Quarter 2026Second Quarter 2026Second Quarter 2026862 | % change% change% change-4% | First Half 2025First Half 2025First Half 2025915 | First Half 2026First Half 2026First Half 2026891 | % change% change% change-3% |
| (in € mil.)(in € mil.)(in € mil.)RASK (Revenue per ASK, in € cents) 2 | Second Quarter 2025Second Quarter 2025Second Quarter 20258,4 | Second Quarter 2026Second Quarter 2026Second Quarter 20268,66 | % change% change% change3% | First Half 2025First Half 2025First Half 20257,96 | First Half 2026First Half 2026First Half 20268,09 | % change% change% change2% |
| (in € mil.)(in € mil.)(in € mil.)Yield (in € cents) 3 | Second Quarter 2025Second Quarter 2025Second Quarter 202510,33 | Second Quarter 2026Second Quarter 2026Second Quarter 202610,78 | % change% change% change4% | First Half 2025First Half 2025First Half 20259,84 | First Half 2026First Half 2026First Half 202610,09 | % change% change% change3% |
| (in € mil.)(in € mil.)(in € mil.)CASK (EBIT level, in € cents)4 | Second Quarter 2025Second Quarter 2025Second Quarter 20257,44 | Second Quarter 2026Second Quarter 2026Second Quarter 20268,04 | % change% change% change8% | First Half 2025First Half 2025First Half 20257,5 | First Half 2026First Half 2026First Half 20267,85 | % change% change% change5% |
| (in € mil.)(in € mil.)(in € mil.)CASK (EBIT level, in € cents) - excl. fuel costs and ETS cost4 | Second Quarter 2025Second Quarter 2025Second Quarter 20255,54 | Second Quarter 2026Second Quarter 2026Second Quarter 20265,53 | % change% change% change0% | First Half 2025First Half 2025First Half 20255,6 | First Half 2026First Half 2026First Half 20265,59 | % change% change% change0% |
| (in € mil.)(in € mil.)(in € mil.)CASK (EBT level, in € cents)4 | Second Quarter 2025Second Quarter 2025Second Quarter 20257,23 | Second Quarter 2026Second Quarter 2026Second Quarter 20268,4 | % change% change% change16% | First Half 2025First Half 2025First Half 20257,43 | First Half 2026First Half 2026First Half 20268,29 | % change% change% change12% |
| (in € mil.)(in € mil.)(in € mil.)CASK (EBT level, in € cents) -excl. fuel costs and ETS cost4 | Second Quarter 2025Second Quarter 2025Second Quarter 20255,33 | Second Quarter 2026Second Quarter 2026Second Quarter 20265,89 | % change% change% change11% | First Half 2025First Half 2025First Half 20255,53 | First Half 2026First Half 2026First Half 20266,03 | % change% change% change9% |
Notes:
1 Earnings before interest, tax, depreciation and amortization (EBITDA).
2 Revenue per Available Seat Kilometer, excluding other operating income, excluding ATCOM.
3 Revenue per Passenger Kilometer, excluding other operating income, excluding ATCOM.
4 Cost per Available Seat Kilometer, excluding other operating income, excluding ATCOM.
Consolidated Income Statement - Second Quarter and First Half 2026
| (in € mil.)(in € mil.)(in € mil.)(in € mil.) | Second Quarter 2025Second Quarter 2025Second Quarter 2025Second Quarter 2025 | Second Quarter 2026Second Quarter 2026Second Quarter 2026Second Quarter 2026 | % change% change% change% change | First Half 2025First Half 2025First Half 2025First Half 2025 | First Half 2026First Half 2026First Half 2026First Half 2026 | % change% change% change% change |
| (in € mil.)(in € mil.)(in € mil.) Scheduled Services | Second Quarter 2025Second Quarter 2025Second Quarter 2025418 | Second Quarter 2026Second Quarter 2026Second Quarter 2026428,9 | % change% change% change3% | First Half 2025First Half 2025First Half 2025683,6 | First Half 2026First Half 2026First Half 2026708,5 | % change% change% change4% |
| (in € mil.)(in € mil.)(in € mil.) Charter | Second Quarter 2025Second Quarter 2025Second Quarter 202519,1 | Second Quarter 2026Second Quarter 2026Second Quarter 202615,4 | % change% change% change-19% | First Half 2025First Half 2025First Half 202523,8 | First Half 2026First Half 2026First Half 202619,6 | % change% change% change-18% |
| (in € mil.)(in € mil.)(in € mil.) Other | Second Quarter 2025Second Quarter 2025Second Quarter 202543,8 | Second Quarter 2026Second Quarter 2026Second Quarter 202651,5 | % change% change% change18% | First Half 2025First Half 2025First Half 202579,6 | First Half 2026First Half 2026First Half 202688,5 | % change% change% change11% |
| (in € mil.)(in € mil.)(in € mil.)Total Revenue | Second Quarter 2025Second Quarter 2025Second Quarter 2025480,9 | Second Quarter 2026Second Quarter 2026Second Quarter 2026495,8 | % change% change% change3% | First Half 2025First Half 2025First Half 2025787 | First Half 2026First Half 2026First Half 2026816,6 | % change% change% change4% |
| (in € mil.)(in € mil.)(in € mil.) Other operating income | Second Quarter 2025Second Quarter 2025Second Quarter 202510,4 | Second Quarter 2026Second Quarter 2026Second Quarter 202611,5 | % change% change% change11% | First Half 2025First Half 2025First Half 202516,8 | First Half 2026First Half 2026First Half 202620,8 | % change% change% change24% |
| (in € mil.)(in € mil.)(in € mil.) Employee benefits | Second Quarter 2025Second Quarter 2025Second Quarter 2025(54,8) | Second Quarter 2026Second Quarter 2026Second Quarter 2026(55,8) | % change% change% change2% | First Half 2025First Half 2025First Half 2025(98,3) | First Half 2026First Half 2026First Half 2026(105,1) | % change% change% change7% |
| (in € mil.)(in € mil.)(in € mil.) Aircraft fuel | Second Quarter 2025Second Quarter 2025Second Quarter 2025(95,7) | Second Quarter 2026Second Quarter 2026Second Quarter 2026(116,5) | % change% change% change22% | First Half 2025First Half 2025First Half 2025(165,7) | First Half 2026First Half 2026First Half 2026(184,3) | % change% change% change11% |
| (in € mil.)(in € mil.)(in € mil.) Aircraft maintenance | Second Quarter 2025Second Quarter 2025Second Quarter 2025(61,6) | Second Quarter 2026Second Quarter 2026Second Quarter 2026(71,9) | % change% change% change17% | First Half 2025First Half 2025First Half 2025(97,6) | First Half 2026First Half 2026First Half 2026(112,1) | % change% change% change15% |
| (in € mil.)(in € mil.)(in € mil.) Overflight expenses | Second Quarter 2025Second Quarter 2025Second Quarter 2025(24,4) | Second Quarter 2026Second Quarter 2026Second Quarter 2026(22,9) | % change% change% change-6% | First Half 2025First Half 2025First Half 2025(41,7) | First Half 2026First Half 2026First Half 2026(39,8) | % change% change% change-5% |
| (in € mil.)(in € mil.)(in € mil.) Ground handling expenses | Second Quarter 2025Second Quarter 2025Second Quarter 2025(31) | Second Quarter 2026Second Quarter 2026Second Quarter 2026(32,5) | % change% change% change5% | First Half 2025First Half 2025First Half 2025(54,4) | First Half 2026First Half 2026First Half 2026(57,6) | % change% change% change6% |
| (in € mil.)(in € mil.)(in € mil.) Airport charges | Second Quarter 2025Second Quarter 2025Second Quarter 2025(20,5) | Second Quarter 2026Second Quarter 2026Second Quarter 2026(20,4) | % change% change% change0% | First Half 2025First Half 2025First Half 2025(38,9) | First Half 2026First Half 2026First Half 2026(39,3) | % change% change% change1% |
| (in € mil.)(in € mil.)(in € mil.) Catering expenses | Second Quarter 2025Second Quarter 2025Second Quarter 2025(13,9) | Second Quarter 2026Second Quarter 2026Second Quarter 2026(14,1) | % change% change% change2% | First Half 2025First Half 2025First Half 2025926,4) | First Half 2026First Half 2026First Half 2026(27,1) | % change% change% change3% |
| (in € mil.)(in € mil.)(in € mil.) Distribution expenses | Second Quarter 2025Second Quarter 2025Second Quarter 2025(30) | Second Quarter 2026Second Quarter 2026Second Quarter 2026(30,8) | % change% change% change3% | First Half 2025First Half 2025First Half 2025(51) | First Half 2026First Half 2026First Half 2026(52) | % change% change% change2% |
| (in € mil.)(in € mil.)(in € mil.) Marketing & advertising expenses | Second Quarter 2025Second Quarter 2025Second Quarter 2025(6,9) | Second Quarter 2026Second Quarter 2026Second Quarter 2026(8,1) | % change% change% change18% | First Half 2025First Half 2025First Half 2025(12,4) | First Half 2026First Half 2026First Half 2026(14,8) | % change% change% change19% |
| (in € mil.)(in € mil.)(in € mil.) Emissions | Second Quarter 2025Second Quarter 2025Second Quarter 2025(13,2) | Second Quarter 2026Second Quarter 2026Second Quarter 2026(27,3) | % change% change% change106% | First Half 2025First Half 2025First Half 2025(21,9) | First Half 2026First Half 2026First Half 2026(43,8) | % change% change% change100% |
| (in € mil.)(in € mil.)(in € mil.) Other operating expenses | Second Quarter 2025Second Quarter 2025Second Quarter 2025(26,4) | Second Quarter 2026Second Quarter 2026Second Quarter 2026(5,6) | % change% change% change-79% | First Half 2025First Half 2025First Half 2025(37,4) | First Half 2026First Half 2026First Half 2026(13,3) | % change% change% change-64% |
| (in € mil.)(in € mil.)(in € mil.) Leases | Second Quarter 2025Second Quarter 2025Second Quarter 2025(0,5) | Second Quarter 2026Second Quarter 2026Second Quarter 2026(2,6) | % change% change% change418% | First Half 2025First Half 2025First Half 2025(1,8) | First Half 2026First Half 2026First Half 2026(2,8) | % change% change% change53% |
| (in € mil.)(in € mil.)(in € mil.)EBITDA | Second Quarter 2025Second Quarter 2025Second Quarter 2025112,4 | Second Quarter 2026Second Quarter 2026Second Quarter 202698,8 | % change% change% change-12% | First Half 2025First Half 2025First Half 2025156,2 | First Half 2026First Half 2026First Half 2026145,3 | % change% change% change-7% |
| (in € mil.)(in € mil.)(in € mil.)EBITDA Margin | Second Quarter 2025Second Quarter 2025Second Quarter 202523,40% | Second Quarter 2026Second Quarter 2026Second Quarter 202619,90% | % change% change% change | First Half 2025First Half 2025First Half 202519,90% | First Half 2026First Half 2026First Half 202617,80% | % change% change% change |
| (in € mil.)(in € mil.)(in € mil.) Depreciation | Second Quarter 2025Second Quarter 2025Second Quarter 2025(50,9) | Second Quarter 2026Second Quarter 2026Second Quarter 2026(55,2) | % change% change% change8% | First Half 2025First Half 2025First Half 2025(97,3) | First Half 2026First Half 2026First Half 2026(106,9) | % change% change% change10% |
| (in € mil.)(in € mil.)(in € mil.)EBIT | Second Quarter 2025Second Quarter 2025Second Quarter 202561,5 | Second Quarter 2026Second Quarter 2026Second Quarter 202643,6 | % change% change% change-29% | First Half 2025First Half 2025First Half 202558,9 | First Half 2026First Half 2026First Half 202638,5 | % change% change% change-35% |
| (in € mil.)(in € mil.)(in € mil.)EBIT margin | Second Quarter 2025Second Quarter 2025Second Quarter 202512,8% | Second Quarter 2026Second Quarter 2026Second Quarter 20268,8% | % change% change% change | First Half 2025First Half 2025First Half 20257,5% | First Half 2026First Half 2026First Half 20264,7% | % change% change% change |
| (in € mil.)(in € mil.)(in € mil.) Interest and Financial income | Second Quarter 2025Second Quarter 2025Second Quarter 202510,2 | Second Quarter 2026Second Quarter 2026Second Quarter 20269,44 | % change% change% change-8% | First Half 2025First Half 2025First Half 202517,6 | First Half 2026First Half 2026First Half 202615,8 | % change% change% change-11% |
| (in € mil.)(in € mil.)(in € mil.) Interest and Financial expense | Second Quarter 2025Second Quarter 2025Second Quarter 2025(20,4) | Second Quarter 2026Second Quarter 2026Second Quarter 2026(24,24) | % change% change% change19% | First Half 2025First Half 2025First Half 2025(41,1) | First Half 2026First Half 2026First Half 2026(45,7) | % change% change% change11% |
| (in € mil.)(in € mil.)(in € mil.) FX difference and other | Second Quarter 2025Second Quarter 2025Second Quarter 202522,2 | Second Quarter 2026Second Quarter 2026Second Quarter 2026(6) | % change% change% change- | First Half 2025First Half 2025First Half 202530,6 | First Half 2026First Half 2026First Half 2026(14,1) | % change% change% change- |
| (in € mil.)(in € mil.)(in € mil.) Share of profit / (loss) in associates | Second Quarter 2025Second Quarter 2025Second Quarter 2025(0,1) | Second Quarter 2026Second Quarter 2026Second Quarter 2026(0,2) | % change% change% change92% | First Half 2025First Half 2025First Half 2025(0,0) | First Half 2026First Half 2026First Half 2026(0,1) | % change% change% change94% |
| (in € mil.)(in € mil.)(in € mil.)Pre-tax Profit / (Loss) | Second Quarter 2025Second Quarter 2025Second Quarter 202573,5 | Second Quarter 2026Second Quarter 2026Second Quarter 202622,7 | % change% change% change-69% | First Half 2025First Half 2025First Half 202566 | First Half 2026First Half 2026First Half 2026-5,7 | % change% change% change- |
| (in € mil.)(in € mil.)(in € mil.)EBT margin | Second Quarter 2025Second Quarter 2025Second Quarter 202515,3% | Second Quarter 2026Second Quarter 2026Second Quarter 20264,6% | % change% change% change | First Half 2025First Half 2025First Half 20258,4% | First Half 2026First Half 2026First Half 2026-0,7% | % change% change% change |
| (in € mil.)(in € mil.)(in € mil.) Income Tax | Second Quarter 2025Second Quarter 2025Second Quarter 2025(19,0) | Second Quarter 2026Second Quarter 2026Second Quarter 2026(4,2) | % change% change% change-78% | First Half 2025First Half 2025First Half 2025(18,2) | First Half 2026First Half 2026First Half 20262,4 | % change% change% change- |
| (in € mil.)(in € mil.)(in € mil.)Net Profit / (Loss) after tax | Second Quarter 2025Second Quarter 2025Second Quarter 202554,5 | Second Quarter 2026Second Quarter 2026Second Quarter 202618,5 | % change% change% change-66% | First Half 2025First Half 2025First Half 202547,9 | First Half 2026First Half 2026First Half 2026-3,3 | % change% change% change- |
Note:
The results for the first half of 2026 include the full consolidation of the 100% subsidiary ICT, which owns 100% of the company ATCOM.
ATCOS's Revenue and Pre-tax Profit for the first half of 2026 amounted to €11,5 mil. and €1,86 mil. respectively. The full consolidation contributed revenue of €7,1 mil. and Profit before tax of €314,7 thous. to the Group.
Balance Sheet Aegean Group- Summary
| (in € mil.)(in € mil.)(in € mil.)(in € mil.) | 31.12.202531.12.202531.12.202531.12.2025 | 30.06.202630.06.202630.06.202630.06.2026 |
|
(in € mil.)(in € mil.)(in € mil.) | ||
| (in € mil.)(in € mil.)(in € mil.)Total Fixed Assets | 31.12.202531.12.202531.12.20251.930,3 | 30.06.202630.06.202630.06.20262.025,4 |
| (in € mil.)(in € mil.)(in € mil.)Cash & Cash Equivalents | 31.12.202531.12.202531.12.2025651,5 | 30.06.202630.06.202630.06.2026629,0 |
|
(in € mil.)(in € mil.)(in € mil.)Financial Assets Available for Sale | 31.12.202531.12.202531.12.2025 300,2 | 30.06.202630.06.202630.06.2026327,1 |
| (in € mil.)(in € mil.)(in € mil.)Restricted Cash | 31.12.202531.12.202531.12.20253,5 | 30.06.202630.06.202630.06.20260,0 |
| (in € mil.)(in € mil.)(in € mil.)Other Current Assets | 31.12.202531.12.202531.12.2025328,0 | 30.06.202630.06.202630.06.2026459,9 |
| (in € mil.)(in € mil.)(in € mil.)Total Assets | 31.12.202531.12.202531.12.20253.213,5 | 30.06.202630.06.202630.06.20263.441,8 |
| (in € mil.)(in € mil.)(in € mil.)Total Equity | 31.12.202531.12.202531.12.2025568,8 | 30.06.202630.06.202630.06.2026526,1 |
| (in € mil.)(in € mil.)(in € mil.)Lease Liabilities | 31.12.202531.12.202531.12.2025971,1 | 30.06.202630.06.202630.06.20261.114,2 |
| (in € mil.)(in € mil.)(in € mil.)Loans | 31.12.202531.12.202531.12.2025664,2 | 30.06.202630.06.202630.06.2026518,3 |
| (in € mil.)(in € mil.)(in € mil.)Other Non-Current Liabilities | 31.12.202531.12.202531.12.2025227,9 | 30.06.202630.06.202630.06.2026188,4 |
| (in € mil.)(in € mil.)(in € mil.)Other Current Liabilities | 31.12.202531.12.202531.12.2025781,5 | 30.06.202630.06.202630.06.20261.094,8 |
| (in € mil.)(in € mil.)(in € mil.)Total Equity and Liabilities | 31.12.202531.12.202531.12.20253.213,5 | 30.06.202630.06.202630.06.20263.441,8 |
Cash Flow Aegean Group - Summary
| (in € mil.)(in € mil.)(in € mil.)(in € mil.) | 30.06.202530.06.202530.06.202530.06.2025 | 30.06.202630.06.202630.06.202630.06.2026 |
|
(in € mil.)(in € mil.)(in € mil.) | ||
| (in € mil.)(in € mil.)(in € mil.)Net cash flows from operating activities | 30.06.202530.06.202530.06.2025228,9 | 30.06.202630.06.202630.06.2026299,4 |
| (in € mil.)(in € mil.)(in € mil.)Net cash flows from investing activities | 30.06.202530.06.202530.06.20257,1 | 30.06.202630.06.202630.06.2026(37,7) |
| (in € mil.)(in € mil.)(in € mil.)Net cash flows from financing activities | 30.06.202530.06.202530.06.2025(126,3) | 30.06.202630.06.202630.06.2026(270,4) |
| (in € mil.)(in € mil.)(in € mil.)Net (decrease)/ increase in cash and cash equivalents | 30.06.202530.06.202530.06.2025109,6 | 30.06.202630.06.202630.06.2026(8,7) |
| (in € mil.)(in € mil.)(in € mil.)Cash at the beginning of the period1 | 30.06.202530.06.202530.06.2025769,1 | 30.06.202630.06.202630.06.2026955,1 |
| (in € mil.)(in € mil.)(in € mil.)Foreign exchange difference impact in cash | 30.06.202530.06.202530.06.2025(36,8) | 30.06.202630.06.202630.06.20269,7 |
| (in € mil.)(in € mil.)(in € mil.)Cash and cash equivalents at the end of the period1 | 30.06.202530.06.202530.06.2025841,9 | 30.06.202630.06.202630.06.2026956,1 |
Note:
1 Includes restricted deposits and financial assets.
Group operating figures
| Second Quarter 2025Second Quarter 2025Second Quarter 2025Second Quarter 2025 | Second Quarter 2026Second Quarter 2026Second Quarter 2026Second Quarter 2026 | % change% change% change% change | First Half 2025First Half 2025First Half 2025First Half 2025 | First Half 2025First Half 2025First Half 2025First Half 2025 | % change% change% change% change | |
| Capacity | Second Quarter 2025Second Quarter 2025Second Quarter 2025 | Second Quarter 2026Second Quarter 2026Second Quarter 2026 | % change% change% change | First Half 2025First Half 2025First Half 2025 | First Half 2025First Half 2025First Half 2025 | % change% change% change |
| ASKs (in millions) | Second Quarter 2025Second Quarter 2025Second Quarter 20255.723 | Second Quarter 2026Second Quarter 2026Second Quarter 20265.727 | % change% change% change0% | First Half 2025First Half 2025First Half 20259.883 | First Half 2025First Half 2025First Half 202510.091 | % change% change% change2% |
| Total available seats ('000) | Second Quarter 2025Second Quarter 2025Second Quarter 20255.516 | Second Quarter 2026Second Quarter 2026Second Quarter 20265.677 | % change% change% change3% | First Half 2025First Half 2025First Half 20259.374 | First Half 2025First Half 2025First Half 20259.685 | % change% change% change3% |
| Total Block Hours | Second Quarter 2025Second Quarter 2025Second Quarter 202558.895 | Second Quarter 2026Second Quarter 2026Second Quarter 202658.765 | % change% change% change0% | First Half 2025First Half 2025First Half 2025100.923 | First Half 2025First Half 2025First Half 2025102.299 | % change% change% change1% |
| Total Sectors Flown | Second Quarter 2025Second Quarter 2025Second Quarter 202535.659 | Second Quarter 2026Second Quarter 2026Second Quarter 202636.043 | % change% change% change1% | First Half 2025First Half 2025First Half 202560.093 | First Half 2025First Half 2025First Half 202561.484 | % change% change% change2% |
| Average capacity per flight | Second Quarter 2025Second Quarter 2025Second Quarter 2025155 | Second Quarter 2026Second Quarter 2026Second Quarter 2026158 | % change% change% change2% | First Half 2025First Half 2025First Half 2025156 | First Half 2025First Half 2025First Half 2025158 | % change% change% change1% |
| Average sector length (km) | Second Quarter 2025Second Quarter 2025Second Quarter 2025893 | Second Quarter 2026Second Quarter 2026Second Quarter 2026862 | % change% change% change-4% | First Half 2025First Half 2025First Half 2025915 | First Half 2025First Half 2025First Half 2025891 | % change% change% change-3% |
| Passengers (΄000) | Second Quarter 2025Second Quarter 2025Second Quarter 2025 | Second Quarter 2026Second Quarter 2026Second Quarter 2026 | % change% change% change | First Half 2025First Half 2025First Half 2025 | First Half 2025First Half 2025First Half 2025 | % change% change% change |
| By type of service: | Second Quarter 2025Second Quarter 2025Second Quarter 2025 | Second Quarter 2026Second Quarter 2026Second Quarter 2026 | % change% change% change | First Half 2025First Half 2025First Half 2025 | First Half 2025First Half 2025First Half 2025 | % change% change% change |
| Schedule passengers | Second Quarter 2025Second Quarter 2025Second Quarter 20254.370 | Second Quarter 2026Second Quarter 2026Second Quarter 20264.461 | % change% change% change2% | First Half 2025First Half 2025First Half 20257.433 | First Half 2025First Half 2025First Half 20257.668 | % change% change% change3% |
| Charter passengers | Second Quarter 2025Second Quarter 2025Second Quarter 2025109 | Second Quarter 2026Second Quarter 2026Second Quarter 202677 | % change% change% change-29% | First Half 2025First Half 2025First Half 2025139 | First Half 2025First Half 2025First Half 2025100 | % change% change% change-28% |
| By network: | Second Quarter 2025Second Quarter 2025Second Quarter 2025 | Second Quarter 2026Second Quarter 2026Second Quarter 2026 | % change% change% change | First Half 2025First Half 2025First Half 2025 | First Half 2025First Half 2025First Half 2025 | % change% change% change |
| Domestic | Second Quarter 2025Second Quarter 2025Second Quarter 20251.912 | Second Quarter 2026Second Quarter 2026Second Quarter 20262.007 | % change% change% change5% | First Half 2025First Half 2025First Half 20253.092 | First Half 2025First Half 2025First Half 20253.276 | % change% change% change6% |
| International | Second Quarter 2025Second Quarter 2025Second Quarter 20252.567 | Second Quarter 2026Second Quarter 2026Second Quarter 20262.531 | % change% change% change-1% | First Half 2025First Half 2025First Half 20254.480 | First Half 2025First Half 2025First Half 20254.492 | % change% change% change0% |
| Total number of passengers | Second Quarter 2025Second Quarter 2025Second Quarter 20254.479 | Second Quarter 2026Second Quarter 2026Second Quarter 20264.538 | % change% change% change1% | First Half 2025First Half 2025First Half 20257.572 | First Half 2025First Half 2025First Half 20257.768 | % change% change% change3% |
| RPKs (in millions) | Second Quarter 2025Second Quarter 2025Second Quarter 20254.656 | Second Quarter 2026Second Quarter 2026Second Quarter 20264.601 | % change% change% change-1% | First Half 2025First Half 2025First Half 20257.999 | First Half 2025First Half 2025First Half 20258.090 | % change% change% change1% |
| Average passengers per flight | Second Quarter 2025Second Quarter 2025Second Quarter 2025126 | Second Quarter 2026Second Quarter 2026Second Quarter 2026126 | % change% change% change0% | First Half 2025First Half 2025First Half 2025126 | First Half 2025First Half 2025First Half 2025126 | % change% change% change0% |
| Load factor- Scheduled Services (Pax/AVS) | Second Quarter 2025Second Quarter 2025Second Quarter 202581,40% | Second Quarter 2026Second Quarter 2026Second Quarter 202680,10% | % change% change% change-1,3pp | First Half 2025First Half 2025First Half 202581,00% | First Half 2025First Half 2025First Half 202580,40% | % change% change% change-0,6pp |
| Load factor- Scheduled Services (RPK/ASK) | Second Quarter 2025Second Quarter 2025Second Quarter 202581,40% | Second Quarter 2026Second Quarter 2026Second Quarter 202680,30% | % change% change% change-1,1pp | First Half 2025First Half 2025First Half 202581,10% | First Half 2025First Half 2025First Half 202580,30% | % change% change% change-0,8pp |