Greek airline Aegean has reported a pre-tax lack of €297 million for monetary 2020 because the Covid-19 pandemic took a toll on the aviation sector.
The determine is compared to a revenue of €107 million for 2019.
Dimitris Gerogiannis, chief government of Aegean, commented: “Final 12 months was definitely essentially the most troublesome 12 months in aviation historical past.
“From the onset of the disaster we’ve got labored diligently to handle the challenges of this particular interval.
“We proceed to work to additional improve our resilience and competitiveness but additionally to develop new companies for our passengers to be more practical as soon as restrictions are regularly lifted.
“Naturally, the completion of the upcoming share capital improve is one other vital step on this course of.”
The resurgence of the pandemic, and the renewed restrictive measures imposed on journey in Europe and in Greece, closely impacted the exercise of the group within the fourth quarter.
Visitors was down 85 per cent within the final three months of the 12 months, when in comparison with 2019.
Over the entire 12 months, the service welcomed 5.1 million passengers, down from 15 million within the prior 12 months.
“We count on gradual however important restoration within the second half 2021 and onwards, offered that the just lately improved vaccination price continues, and the EU digital inexperienced passport is applied efficiently no later than the top of June,” added Gerogiannis.