Greek airline Aegean has reported a pre-tax lack of €297 million for monetary 2020 because the Covid-19 pandemic took a toll on the aviation sector.
The determine is compared to a revenue of €107 million for 2019.
Dimitris Gerogiannis, chief govt of Aegean, commented: “Final yr was definitely probably the most tough yr in aviation historical past.
“From the onset of the disaster we’ve got labored diligently to handle the challenges of this particular interval.
“We proceed to work to additional improve our resilience and competitiveness but additionally to develop new providers for our passengers to be simpler as soon as restrictions are steadily lifted.
“Naturally, the completion of the upcoming share capital improve is one other necessary step on this course of.”
The resurgence of the pandemic, and the renewed restrictive measures imposed on journey in Europe and in Greece, closely impacted the exercise of the group within the fourth quarter.
Visitors was down 85 per cent within the final three months of the yr, when in comparison with 2019.
Over the entire yr, the provider welcomed 5.1 million passengers, down from 15 million within the prior yr.
“We count on gradual however vital restoration within the second half 2021 and onwards, offered that the lately improved vaccination charge continues, and the EU digital inexperienced passport is applied efficiently no later than the tip of June,” added Gerogiannis.