The Greek airline group generated consolidated revenue of €320.7 million during the quarter, representing a 5 percent increase compared with the same period in 2025.
Passenger Traffic Continues Growing
AEGEAN carried 3.2 million passengers during the first quarter, an increase of 4 percent year-on-year.
The airline said passenger growth remained aligned with expanded seat capacity while load factor reached 80.8 percent.
EBITDA Improves Despite Industry Pressures
Group EBITDA rose to €46.6 million compared with €43.8 million during the first quarter of 2025.
However, after-tax losses widened to €21.7 million from losses of €6.6 million in the previous year.
AEGEAN said the deterioration was primarily linked to foreign exchange valuation losses totaling €8.1 million, compared with gains of €8.3 million recorded during the same period last year.
Middle East Conflict Impacts Operations
The airline noted that the suspension of flights to several Middle Eastern markets and the sharp increase in jet fuel costs negatively affected performance during March.
Despite these challenges, stronger results during the first two months of the year helped offset some of the pressure.
Fuel Prices Expected To Remain Key Challenge
AEGEAN chief executive officer Dimitris Gerogiannis said the conflict in the Middle East and the closure of the Strait of Hormuz have created a difficult operating environment for the aviation sector throughout 2026.
He added that increased fuel costs are expected to have an even greater impact during the second quarter of the year.
Airline Continues Fleet Expansion
During the first quarter, AEGEAN received two new Airbus A321neo aircraft.
The carrier plans to take delivery of seven A321neo aircraft during the first nine months of 2026 as part of its ongoing fleet modernisation strategy.
Strong Cash Position Maintained
As of 31 March 2026, AEGEAN reported cash, cash equivalents and financial investments totaling €891.6 million.
The company also completed repayment of a €200 million common bond loan during March.
Summer Demand Remains Resilient
Despite geopolitical uncertainty and energy market volatility, AEGEAN said demand for the 2026 summer travel season continues to show resilience.
The airline stated that investments in its new-generation fleet, operational flexibility and strong financial position continue supporting its long-term growth strategy.
