Aegean Airlines Sees 53% Drop in Profit for 2016

Thursday, March 23rd, 2017
Last Update: 15:19

Greece’s largest airline carrier, Aegean Airlines, said on Thursday that the company’s full-year net profit for 2016 fell by 53 percent.

Important factors such as a weak second quarter as well as an increase in value-added tax resulted in the carrier earning only 32.2 million euros in 2016, compared to the 68.4 million euros it earned in 2015 — even with 2016’s increase of sales of 4 percent and passenger traffic up 7.0 percent.

According to Reuters, the carrier has proposed a dividend per shares of 0.4 euros which is a decrease from 0.7 euros.

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