AEGEAN AIRLINES S.A.
Presentation at the Association o Greek Institutional Investors
Aegean Airlines management presented today at the headquarters of the Association of Greek Institutional Investors the company's activities, prospects and strategy.
The presentation referred to the company's history since May 1999, when the company lunched scheduled flights, until today. Aegean Airlines is the fastest growing Greek airline, transferring 4.45 passengers in 2006 from 310 thousand in 1999, ie growing at a combined annual rate of 47%. At the same time, the company not only did it manage to survive during difficult times for the sector worldwide but it also reinforced its market position by expanding its network and growing its fleet.
Management underlined the company's leading position on domestic flights while it also stressed the market's promising growth outlook. Aegean Airlines' main target is the continuous improvement of the services offered with its efforts leading to significant distinctions so far. An important milestone to Aegean's history is also Lufthansa's vote of confidence, since at the end of 2005 Aegean became the regional partner of the German carrier in Greece.
The presentation was focused on Aegean's strategy and prospects going forward. The company will continue to implement its successful strategy of focused international network expansion to Western European as well as regional destinations. A key element of the company's strategy is the renewal of its fleet, having placed orders for delivery of 25 aircraft of the Airbus A320 family over the 2007-2010 period. Aegean Airlines has already taken delivery of the first 3 aircraft A320 in the beginning of 2007. The new fleet will bring significant competitive advantages to Aegean Airlines through the upgrade of the services offered, cost efficiencies and higher capacity per flight. Particularly, the renewal and homogenization of our fleet will allow us to achieve cost savings in the fuel consumption and maintenance fronts as well as increase aircraft productivity. It is worth mentioning that after the completion of the company's investment programme, Aegean Airlines will operate the youngest fleet in the broader geographical region.
The presentation referred to the company's history since May 1999, when the company lunched scheduled flights, until today. Aegean Airlines is the fastest growing Greek airline, transferring 4.45 passengers in 2006 from 310 thousand in 1999, ie growing at a combined annual rate of 47%. At the same time, the company not only did it manage to survive during difficult times for the sector worldwide but it also reinforced its market position by expanding its network and growing its fleet.
Management underlined the company's leading position on domestic flights while it also stressed the market's promising growth outlook. Aegean Airlines' main target is the continuous improvement of the services offered with its efforts leading to significant distinctions so far. An important milestone to Aegean's history is also Lufthansa's vote of confidence, since at the end of 2005 Aegean became the regional partner of the German carrier in Greece.
The presentation was focused on Aegean's strategy and prospects going forward. The company will continue to implement its successful strategy of focused international network expansion to Western European as well as regional destinations. A key element of the company's strategy is the renewal of its fleet, having placed orders for delivery of 25 aircraft of the Airbus A320 family over the 2007-2010 period. Aegean Airlines has already taken delivery of the first 3 aircraft A320 in the beginning of 2007. The new fleet will bring significant competitive advantages to Aegean Airlines through the upgrade of the services offered, cost efficiencies and higher capacity per flight. Particularly, the renewal and homogenization of our fleet will allow us to achieve cost savings in the fuel consumption and maintenance fronts as well as increase aircraft productivity. It is worth mentioning that after the completion of the company's investment programme, Aegean Airlines will operate the youngest fleet in the broader geographical region.