Aegean Airlines S.A. (OTCPK:AGZNF) Q4 2024 Earnings Call March 18, 2025 10:00 AM ET
Company Participants
Eftichios Vassilakis – Chairman
Stella Dimaraki – Deputy Chief Financial Officer
Conference Call Participants
Natalia Svyriadi – Eurobank Equities
Andrew Lobbenberg – Barclays
Jakub Caithaml – Wood & Co
Achal Kumar – HSBC
Operator
Ladies and gentlemen, thank you for standing by. I’m Konstantinos, your Chorus Call operator. Welcome, and thank you for joining the Aegean Airlines conference call to present and discuss the full year 2024 financial results. (Operator Instructions) The conference is being recorded. (Operator Instructions)
At this time, I would like to turn the conference over to Mr. Eftichios Vassilakis, Chairman of the Board of Directors. Mr. Vassilakis, you may now proceed.
Eftichios Vassilakis
Yes. Thank you very much. Welcome, everybody, to the presentation of the results for 2024. Let me first say that I have Mr. Kouveliotis, our CFO and Deputy CEO, with us; also Stella Dimaraki, our Deputy CFO; and Anthi Katelani, our Investor Relations Director, with us. So we’re all here for your questions.
Let me start by saying that ‘24 has been another strong and successful year for Aegean, actually concluded by probably our most successful fourth quarter. As you know, fourth quarter is typically a weak one for anybody involved in the airline business, but particularly for Greek airlines since most of our demand – strong demand is in the summer. Nevertheless, this quarter, the last quarter of ‘24 was definitely the strongest quarter of the year by relation to the previous year and the quarters before that. We had a 10% increase of revenue with only a 4% increase of activity in terms of ASK. And this has brought up our operating profitability by circa €30 million higher than the year before some negative €6 million of EBIT to positive €27 million for the quarter. So both in terms of operating profitability and in
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