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The great blow Aegean received from the coronation pandemic, like all companies in the world in the field of aviation, was explained by the president of the company, Mr. Eftychis Vassilakis.
On the Endeavor Greece digital business panel, Vasilakis recounted how he experienced the outbreak of the pandemic that eventually led to the fixation of the fleet, while also talking about how big the profit loss is, accompanied by the anxiety of the day. following.
“Suddenly, in a month we move from the attic to the basement,” he says, referring to the immediate impact on the company’s finances.
Mr. Vasilakis admitted that although his company had managed to effectively address the health problem, they had not adequately evaluated the magnitude of the problem from the beginning and believed that the pandemic was likely to radically change the landscape in aviation and travel.
In a month we go from the attic to the basement
“Since February 25, when we had the outbreak in Italy, we have been on high alert when we started looking with EODY for plane crashes, quarantine crews coming down, because they may have been on planes that could have carried passengers.” virus, to change cleaning procedures and to change service procedures. Even before Greece reached rapid closure, we were already functionally and at the level of risk to the health of our staff and passengers affected and in this context we began to realize that there will be a more serious economic problem.
“The first month, from the end of February to the end of March, went through a balancing process between trying to operate safely without being able to fully realize the impending economic costs. Under normal circumstances, we are considering whether we will go 20% left. or 20% to the right and suddenly, in a month we go from the attic to the basement, today the company can operate, but it is essentially as if it had closed, since we have 0.05% of our income per day.
I would not be ashamed to say that both me and our CEO made a mistake, we realized that we were dealing with a serious problem but we did not understand its depth and duration. It was not incorrect in terms of health, where we took all the correct measures and in the end we only had one case in our crew, and this without symptoms, but incorrect in terms of estimates of recovery speed. Initially we thought for a month, then for two months and now unfortunately we are talking about at least six. At the same time, we had the mistaken impression that our cash reserves are so large that we cannot have a financial problem during the time we have identified it. “
The difficult return of the airlines
“Other companies may be entering a ‘return to normal’ phase, but this is not the case for us. We know that to be an industry at the levels we had before the health crisis, it will take 2-3 years , so unfortunately it is the only way to reduce the number of people we employ. The immediate difficulty we will have is the choice, the way and the time in which this energy must be made. When it has no production for a few months and does not have idea of how long it will last may sound harsh but you have no choice.
We hope that there is a comprehensive state support program that can help us and those of us who are so severely affected to support more people or give them more than we can afford.
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