Aegean Airlines reports losses in Jan-Sep

Aegean Airlines on Monday said sales totaled 466.2 million euros in the first nine months of 2010, down 3.0 pct from the same period last year while it reported a pre-tax loss of 1.9 million euros and after-tax losses of 8.4 million euros, burdened by an extra tax charge of 6.6 million euros.

The listed airline said passenger traffic fell 3.0 pct to 4.9 million passengers, with traffic on international routes rose 12 pct to 2.4 million passengers. Domestic traffic fell 15 pct to 2.5 million passengers.

Aegean said aircraft occupancy rates rose to 69 pct in the January-September period from 66.2 pct last year.

Dimitris Gerogiannis, Aegean Airlines’ chief executive, said the company was still affected by a deep economic recession in the country while a decision to invest in foreign markets offered results and supported the country’s tourism industry.

He predicted that the fourth quarter of the year, traditionally a weaker period for passenger traffic, will end with losses, keeping the entire year in red.