Aegean Airlines slipped to a first-half net loss of €3.3 million in 2026 as higher fuel and emissions costs, together with Middle East-related disruption, outweighed growth in traffic and revenue. The Greek carrier still lifted revenue 4% to €816.6 million, but EBITDA fell 7% to €145.3 million.
Passenger traffic rose 3% to 7.8 million in the six months to the end of June, supported by disciplined capacity growth. Even so, aircraft fuel expenses increased 11% to €184.3 million, while emissions costs more than doubled to €43.8 million. Aegean put the combined net negative impact from fuel and emissions at about €40 million after hedging gains.
Reuters reported that disruptions linked to geopolitical developments in the Middle East also weighed on profitability, despite the rise in demand. The carrier flagged disciplined capacity management for the months ahead as it works to protect margins in a volatile operating environment.