Aegean Airlines posts first-half loss as fuel costs and Middle East disruption weigh

Aegean Airlines posted a loss for the first six months of 2026. Higher fuel prices and disruption tied to events in the Middle East offset gains in revenue and passenger traffic.

Revenue for January to June rose 4% year on year to €816.6 million, which the Greek carrier said was not enough to absorb the operational hit from external factors.

Net result swung to a loss of €3.3 million (€3.8 million), against a net profit of €47.9 million a year earlier. The pre-tax result moved to a loss of €5.7 million, from a profit of €66.0 million a year before. EBITDA fell 7% year on year to €145.3 million.

Higher fuel prices and emission allowance costs had a net negative impact of €40 million, the airline said, even after accounting for gains from its hedging arrangements. Emissions costs featured alongside fuel as a drag on operating margins.

Passenger numbers moved the other way. The carrier flew 7.8 million passengers in the first half, up 3% year on year.

Chief executive Dimitris Gerogiannis commented on the results and the company's capacity management, according to the airline.