AEGEAN Grew Profit and Passengers as Winter Demand Lifted 2025

AEGEAN reported another year of growth in 2025, with higher revenue, stronger profit, and more passengers.

Key results for the full year of 2025

• Revenue rose 5 percent year over year to €1.86 billion ($2.15 billion).
• Net profit increased 14 percent to €147.8 million ($170.7 million).
• EBITDA reached €421.5 million ($486.7 million).
• The airline carried 17.3 million passengers, nearly 1 million more than in 2024.
• The board also said it will propose a dividend of €0.90 per share ($1.04 per share).

The results show that AEGEAN kept expanding even as the airline industry in Europe faced a more difficult cost environment.

The company said growth was supported by network expansion, new aircraft deliveries, and better demand during the winter season.

Winter demand helped reduce seasonal pressure

AEGEAN said it offered 21 million seats in 2025, up 6 percent from a year earlier, while load factor stood at 82.5 percent. The demand remained strong enough to absorb most of the added capacity.

In the fourth quarter, the airline increased available seats by 10 percent, carried 9 percent more passengers, and grew revenue by 7 percent.

New environmental costs added pressure

AEGEAN said its 2025 results were burdened by €43.3 million ($50.0 million) in extra costs linked to European emissions rules and the use of Sustainable Aviation Fuel. This means the airline had to absorb more costs tied to Europe’s push to make aviation cleaner.

The airline said lower fuel prices and the stronger euro against the US dollar helped offset part of that pressure. Climate policy is now directly affecting operating costs and not just long-term planning.

AEGEAN entered 2026 with strong cash

AEGEAN ended 2025 with €955.1 million ($1.10 billion) in cash, cash equivalents, and other financial investments.

The company also said it fully repaid its 2019 common bond loan on March 12, 2026, with a total payment of €200.3 million ($231.3 million), including accrued interest.

That gives the airline a solid financial cushion at a time when fuel prices, demand, and geopolitics can change quickly. Strong liquidity does not remove those risks, but it gives AEGEAN more room to handle disruption and protect operations if conditions worsen.

2026 has become more uncertain

Although management said the first two months of 2026 were positive, AEGEAN also warned that the war in the Middle East has made the outlook more volatile. The airline said suspended flights in the region account for around 4 to 5 percent of its total scheduled activity, while the sharp rise in fuel prices is expected to affect results at least in the first quarter.

AEGEAN has already announced multiple cancellations linked to the situation. According to its latest notice, flights to and from Dubai are cancelled until March 28, while flights to and from Tel Aviv, Beirut, Erbil, and Baghdad are cancelled until March 29. Riyadh cancellations continue until March 14.

That wider pressure is becoming more visible in airline planning and earnings, as the war involving the US, Israel, and Iran is raising airline costs and hurting margins.

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