ATHENS, May 18 (Reuters) – Aegean Airlines, Greece’s largest carrier, expects 2020 to be the worst year in its history as restrictions due to the coronavirus pandemic hit revenues, its chairman said on Monday.
Aegean, a member of the Star Alliance airline group, suspended international flights on March 26 as a result of restrictions related to the coronavirus pandemic. It will restart flights to some European destinations by end-May.
“The fact that the third quarter will be loss-making … means that 2020 will be the worst year in our history,” board chairman Eftychios Vassilakis told investors in a conference call.
He said the carrier expects to increase operations to around 50% by September from 25% in July, under a best-case scenario.
Revenue in the first quarter which started strong but suffered from a ‘disastrous” March will be down 15% to around 145 million euros. (Reporting by George Georgiopoulos)
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