April 28, 2020 / 3:19 PM / 11 days ago

Aegean Airlines says 2020 will be the worst in its history- chairman

ATHENS, May 18 (Reuters) - Aegean Airlines, Greece’s largest carrier, expects 2020 to be the worst year in its history as restrictions due to the coronavirus pandemic hit revenues, its chairman said on Monday.

Aegean, a member of the Star Alliance airline group, suspended international flights on March 26 as a result of restrictions related to the coronavirus pandemic. It will restart flights to some European destinations by end-May.

“The fact that the third quarter will be loss-making ... means that 2020 will be the worst year in our history,” board chairman Eftychios Vassilakis told investors in a conference call.

He said the carrier expects to increase operations to around 50% by September from 25% in July, under a best-case scenario.

Revenue in the first quarter which started strong but suffered from a ‘disastrous” March will be down 15% to around 145 million euros. (Reporting by George Georgiopoulos)

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