Greece’s Aegean Air 2016 profit drops, trims dividend

Aegean Airlines’ full-year 2016 net profit fell 53 percent, hurt by a weak second quarter and an increase in value-added tax, Greece’s largest carrier said on Thursday.

Aegean reported net earnings of 32.2 million euros ($34.76 million) last year versus a net profit of 68.4 million in 2015. Sales grew 4 percent to 1.02 billion euros.

The airline, a member of Star Alliance, said passenger traffic grew 7 percent last year to 12.5 million passengers.

The carrier said it will propose a dividend per share of 0.4 euros, down from 0.7 euros in 2015.

[Reuters]