Aegean Airlines

Greece's largest carrier Aegean Airlines reported on Tuesday a 28.3 million euro ($33.6 million) loss for the third quarter as passenger traffic fell and aircraft were grounded during the coronavirus pandemic.

Greece is considering a capital injection of around 120 million euros for Aegean Airlines, the government said on Monday, adding that the nation's biggest carrier was crucial to the tourist-reliant economy.

The news drove the carrier's shares 7.35% lower on closing on Monday.

The Greek government has sent a proposal to the European Commission for providing assistance to Aegean Airlines.

If it is approved, the Greek carrier would receive 120 million euros from the state and at least €60 million from its stakeholders, Kathimerini understands.

Monday's resumption of a considerable number of international flights to Athens and Thessaloniki produced a marginally satisfactory occupancy rate for Aegean Airlines, Kathimerini understands.

Turkey plans to resume international flights to 40 countries gradually as of June 10, the transport and infrastructure minister said on June 4. 

The international flights from Turkey will carry passengers firstly to the Turkish Republic of Northern Cyprus, Bahrain, Bulgaria, Qatar, and Greece, Adil Karaismailoğlu said in a statement.

Aegean Airlines will reintroduce international flights and services to all Greek airports as of June 15, as part of the gradual easing of measures introduced during the coronavirus pandemic, the company said on Wednesday.

The government on Thursday announced the allocation of 115 million euros to support the local airline industry, which Greek flag carrier Aegean Airlines considered positive but "too little in comparison with other European Union states." Instead the listed carrier is eyeing a €150 million state loan through the extraordinary credit mechanism for companies.

The government is considering supporting Aegean Airlines due to its role as a company that is key to tourism and air travel in Greece, without this entailing the acquisition of a stake in the listed carrier.

As it gradually comes out of lockdown to restore domestic and some international service, Aegean Airlines is introducing strict safety measures at the gate and onboard and a flexible ticketing policy, the Greek carrier said in an announcement.

Aegean Airlines, Greece's largest carrier, expects 2020 to be the worst year in its 21-year history as restrictions imposed to contain the new coronavirus pandemic have hit revenues and grounded planes, its chairman said on Monday.