“Flying” is the airline company Aegean Airlines, which presented a large increase in turnover and profitability in 2023.
Consolidated turnover for the full year was €1.69bn, up 27% on 2022. It also recorded EBITDA profits of €400.4m, 46% higher than a very strong 2022, confirming full recovery from the difficult period of the pandemic.
Profit after tax came to €168.7m, 58% higher than in 2022.
Here one wonders why the Mitsotakis government, which had supported Aegean with 120 million euros in the midst of a pandemic, hastened in November to ask for it back, exercising the right to acquire shares (warrants). Thus, the State received only 85.389 million euros out of 120, on January 2, 2024.
The remaining 34.6 million euros were lost from the public treasury. No one would see the company going for record profits and exercise stock options. The State had a margin until the year 2026. With such turnovers and profits, it was very likely that the State would earn more than the 120 million it gave to support the company.
But these are fine print for the Mitsotakis government. Here he did not put an extraordinary tax on the excess profits of the fuel companies…
However, the Board of Directors of Aegean will propose for approval by the next General Meeting the distribution of a dividend of €0.75 per share.
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