Aegean Airlines aims to consolidate its position in the international market and reduce further its operating costs in 2011.
The outlook remains weak due to the reduced domestic demand, however the downward trend has been stabilizing during the recent months, said the company’s administration in a conference call.
The rate of tourism’s recovery, after the reduction of VAT on tourist accommodation to 6.5% from 11% and the unrest in the Arab world, will be crucial for the course of air transport market.
“There is a growing demand from traditional markets such as France, Germany and Italy, and also new ones such as Russia and Israel”, said Aegean.
However, the constant increase of oil prices cause concern to the company, which proceeds with the outsourcing of certain services such as handling.
The acquisition of four slots in Paris and London aimed at the strengthening of the company’s position in Western Europe, Great Britain and France.
By May 2011, Aegean’s fleet will consist only of Airbus aircrafts, helping the company to reduce further its costs.
During 2010, more than 500 employees got the sack, however only the 20% of them belong to the permanent staff.
The listed company recorded losses of EUR 23.3mn and cash reserves of EUR 190mn.
The outlook remains weak due to the reduced domestic demand, however the downward trend has been stabilizing during the recent months, said the company’s administration in a conference call.
The rate of tourism’s recovery, after the reduction of VAT on tourist accommodation to 6.5% from 11% and the unrest in the Arab world, will be crucial for the course of air transport market.
“There is a growing demand from traditional markets such as France, Germany and Italy, and also new ones such as Russia and Israel”, said Aegean.
However, the constant increase of oil prices cause concern to the company, which proceeds with the outsourcing of certain services such as handling.
The acquisition of four slots in Paris and London aimed at the strengthening of the company’s position in Western Europe, Great Britain and France.
By May 2011, Aegean’s fleet will consist only of Airbus aircrafts, helping the company to reduce further its costs.
During 2010, more than 500 employees got the sack, however only the 20% of them belong to the permanent staff.
The listed company recorded losses of EUR 23.3mn and cash reserves of EUR 190mn.
