AEGEAN Airlines has reported its full-year and fourth-quarter results for 2025.
Fourth-quarter pre-tax profits dropped 59% to €6.5 million and EBITDA fell 14% to €64.9 million. Net profits fell from €0.1 million in fourth-quarter 2024 to €2.1 million in fourth-quarter 2025.
For the quarter, revenues were up 7% to €425.6 million.
The company increased capacity by 11% in the quarter and RPKs were up 10%, while load factor was down 1.1 percentage points to 82%.
The company said the Middle East conflict has led it to suspend around 4-5% of its total scheduled activity. Additionally, the increase on fuel prices is expected to have a “notable impact” in the first quarter at least.
“The duration of this new conflict in the Middle East remains uncertain; AEGEAN, having substantial experience in managing similar crises, as well as strong cash reserves and significant levels of fuel hedging contracts in place, will once again demonstrate the resilience and adaptability required to sustain its competitiveness and long-term growth prospects,” said AEGEAN CEO Dimitris Gerogiannis.
Full-year revenues were up 5% in 2025 to €1.87bn in 2025, driven by its continued network and winter season demand growth.
Net profits climbed 14% to €147.8 million during the year, while pre-tax profits were up 17% to €192.1 million. Full-year EBITDA reached €421.5 million.
“The improvement was achieved despite significant additional costs stemming from the European regulatory framework related to emissions and the use of sustainable aviation fuel (SAF), which burdened the group's results by €43.3 million in 2025,” said AEGEAN.
However, the airline benefitted from lower fuel prices, as well as favourable foreign exchange rates.
As of the end of 2025, the company's net debt to EBITDA ratio was 1.6x.