Apr 01, 2019 / 01:00PM GMT
Operator
Ladies and gentlemen, thank you for standing by. I am Gaily, your Chorus Call operator.
Welcome, and thank you for joining the Aegean Airlines Conference Call to present and discuss the Full Year 2018 Financial Results. (Operator Instructions)
At this time, I would like to turn the conference over to Mr. Eftichios Vassilakis, Chairman. Mr. Vassilakis, you may now proceed.
Eftichios Theodoros Vassilakis - Aegean Airlines S.A. - Executive Chairman
Yes. Good afternoon, everybody. Welcome to our annual results call.
Once again, beyond me, we have in attendance both Mr. Kouveliotis, our CFO; and (inaudible), our Treasury and Investor Relations Director, so welcome.
2018 was a difficult year because we had 2 headwinds going against us. One was a significant increase of competitive capacity to our markets, which was between 14% and 17%, depending if you consider Athens or the regions or the overall Greek capacity situation, and of course, a significant increase in the price of fuel.
Despite those 2 effects, we followed a
Q4 2018 Aegean Airlines SA Earnings Call Transcript
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