Post on 11-Jul-2020
Company Presentation
30 June 2010
2
AEGEAN at a glance
Full service carrier focusing on quality services
Providing scheduled & charter, short & medium haul services since 1999
Growing fast over the decade to become the largest Greek airline since 2008
6.6 million passengers carried in 2009
Fleet of 28 jet A/C + 2 wet lease Turboprops
Listed in Athens Exchange
Profitable in the last 7 years
3
Shareholder structure
Bottling, Industrials, Real Estate, Consumer Goods4.7%G. David family
Automotive – trading, leasing – services, airline sectorExercises management
36.0%Vassilakis Group
23.0%
4.7%
6.0%
6.4%
19.0%
%
Construction, Real estate, Hotels, RestaurantsD. Ioannou family
Other 60.000 shareholders
Banking, real estate, InsurancePiraeus Bank
Shipping, Tourism, Real estateConstantakopoulos family
Shipping, Hotels, Real estate, financeLaskaridis Group
Field of activityShareholder
4
Investing in new fleet
3021Total
3,5 years10 yearsAverage age
20ATR 72 (wet leases)
220Airbus A320/321
015Boeing 737
66RJ Avro
20102006Fleet
Fleet has grown from 21 in 2006 to 30 in 2010
Replacement of 737 Boeing fleet with brand new
A320 family aircraft initiated in 2007
5
Network evolutionFleet growth facilitated network expansion
2006: Covering 8 out of top 30 international destinations out of Athens
2010: Covering 19 out of top 30 international destinations out of Athens
3722Total Destinations
5429Number of routes*
208International Destinations
1715Domestic Destinations
20102006Summer Season
2010 routes include 4 seasonal
6
International Network
Porto
Lisbon
TAP Portugal:
Paris
Manchester
London
Hannover
Hamburg
Berlin
Barcelona
Amsterdam
Lufthansa:
Stockholm
Nice
Manchester
Brussels
Brussels Airlines:
Manchester
Glasgow
Edinburgh
Dublin
Belfast
Aberdeen
Bmi:
Paris
Brussels
London
Vienna
Istanbul
Venice
Larnaca
Cairo
Rome
Athens
Tel Aviv
Tirana
BelgradeMilan
Berlin
Munich
Frankfurt
Düsseldorf
ThessalonikiBarcelona
Madrid
Stuttgart
28 intl routes20 intl destinations
Nice
Aegean International Network :
Code shared destinations
Thessaloniki - Stuttgart28Thessaloniki - Munich27
Thessaloniki - Larnaca26Thessaloniki - Frankfurt25Thessaloniki - Dusseldorf24Santorini - Rome (seasonal)23Santorini - Milano (seasonal)22Mykonos - Rome (seasonal)21Mykonos - Milano (seasonal)20Athens - Vienna19Athens - Venice18Athens - Tirana17Athens - Tel Aviv16Athens - Rome Fiumicino15Athens - Paris CDG14Athens - Munich13Athens - Milano Malpensa12Athens - Madrid11Athens - London Heathrow10Athens - Larnaca9Athens - Istanbul8Athens - Frankfurt7Athens - Dusseldorf6Athens - Cairo5Athens - Brussels4Athens - Berlin TXL3Athens - Belgrade2Athens - Barcelona1
7
Domestic Network26 domestic routes17 domestic destinations100 daily flights
ThessalonikiIoannina
Corfu
Chania
Heraklion
Santorini
Mykonos
Samos
Kos
Rhodes
Mytilini
AlexandroupolisKavala
Athens Chios
Kalamata
SitiaThessaloniki - Santorini26Thessaloniki-Samos (PSO)25Thessaloniki - Rhodes24Thessaloniki - Mytilini23Thessaloniki - Mykonos22Thessaloniki - Kos21Thessaloniki-Kerkyra (PSO)20Thessaloniki-Kalamata (PSO)19Thessaloniki - Heraklion18Thessaloniki - Chania17Athens - Thessaloniki16Athens-Sitia (PSO)15Athens - Santorini14Athens - Samos13Athens - Rhodes12Athens - Mytilini11Athens - Mykonos10Athens - Kos9Athens - Kerkyra8Athens - Kavala7Athens - Kalamata6Athens - Ioannina5Athens - Heraklion4Athens - Chios3Athens - Chania2Athens - Alexandroupolis1
Aegean Domestic Network :
8
Traffic
Passengers - Domestic Network (m)
0,311,57 1,92 1,74 2,05
2,57 2,79 3,06 3,36 3,67 3,75
1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009
Passengers - International Network (m)
0,00 0,000,59 0,67 0,80 1,01 1,22 1,39
1,872,31
2,82
1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009
Total Passengers (m)
0,311,57
2,51 2,42 2,85 3,58 4,01 4,455,23
6,00 6,57
1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009
9
Solid financial position
Revenue (m €)
72,2157,5
201,3 223,1283,5
340,6401,1
482,7
611,7 622,7
2000 2001 2002 2003 2004 2005 2006 2007 2008 2009
23,0 Net earnings after tax
83,3Total borrowings
208,2Cash & cash equivalents
224,6Total equity
32,5 Pre – tax earnings
31,5 EBITDA2
95,9 EBITDAR1
622,7 Revenues
2009€ (m)
1 EBITDAR: Earnings before interest, tax, depreciation & amortization and lease costs, 2 EBITDA: Earnings before interest, tax, depreciation & amortization
10
Significant contribution to the market’s growth
4,4
19,6
24
4,6
24,2
28,8
6,8
26,1
32,9
0
5
10
15
20
25
30
35
Domestic International Total
Pass
enge
rs (
m)
1998 2002 2009
+55%
+33%
+37%
Total market 1998-2009:9 million passengers increase
Total market (in million pax)
6,8
10,1
2,4
3,9
9,7
0%
10%
20%
30%
40%
50%
60%
70%
80%
90%
100%
1
International (other airports)International (Heraklion)International (Thessaloniki)International (AIA)DomesticSource: AIA, HCAA
32,9 m pax
11
Investing in Quality
New fleet improves reliability / punctuality / Product upgrade
Investing in quality on board and on ground
Business / economy class
Frequent Flyer Program
On time performance
In flight entertainment
Continuous market research on customer satisfaction
Aegean Cuisine on AEGEAN flights!
Athens International Airport Lounge
Our in-flight Magazine
Self Check-in kiosks
Discover Greek wine campaign
12
e services / Simplifying procedures
e services for individuals & Travel Agents
Continuous improvements on www.aegeanair.com
Unique visitors passed the 1m mark in February 2010
Auxiliary services like hotel reservation, travel insurance, car rental
13
Awards
The company contributing to the largest increase in passengers for the years 2004-2009
European Region Airline Association awards over the years : 2000, 2004, 2005, 2006, 2007, 2008
Best regional airline in Europe Best Cabin Crew in South Europe 16 million passengers voted for the survey
14
Initiatives
Children Villages SOS (Aegean + Passengers contribution)
National initiative: 2 new Airbus Α320 bearing the image of the Acropolis Museum’s Kori of Athens
Transfer of more than 6,000 students from the Greek islands to the new museum
15
Agreement to merge with Olympic
February 2010: Main shareholders of AEGEAN and sole shareholder of Olympic Marfin Investment Group reached an agreement for the merger of the twoentities’ operations
Deal structure: Capital Increase of €97.5m into 3 Olympic co’s fully covered by MarfinAcquisition by Aegean of 3 subsidiaries of Olympic group (airline, engineering, handling) + Simultaneous Capital increase in Aegean with the sole participation of Marfin Investment Group (26.6%) + €48.5m cash consideration paid to Marfin by Aegean
Deal at European Competition Commission approval stage
16
Aegean becomes a member of STAR ALLIANCE
Over 21,200
4,025
1,172 in 181 countries
628 m
28
Star AllianceFacts & Figures
Members:
Airports :
Fleet :
Daily departures :
Passengers per year:
17
Star alliance entry process
April 2009: Star alliance acceptance
May – July 2009: integration planning
September 2009 – May 2010: Implementation
Operational issues:IT systemsLoyalty programsPassengers & baggage processes
30.06.2010: AEGEAN joins Star Alliance - Short integration period and systems upgrade
18
Star Alliance: Benefits to passengers
Access to a worldwide network – Global reach
Seamless worldwide travel services / ticketing, check-in services
Frequent Flyer Programs linked
Privileged access to facilities, lounges, priority check-in, boarding, baggage
Round the world fares
19
Star Alliance: Benefits to Aegean
Worldwide recognition / status
Network connectivity / increased feeding => additional passengers
Corporate agreements => additional passengers
Common terminals / facilities in a large number of airports => Operational improvement
Synergies in IT => upgrade & development of new services
Joint sourcing projects => cost reduction
Know-how exchange
Thank you!