The Founder and President of Investment Opportunities Greece (IOGR) Ioannis Grylos, which SKY Express belongs to, announced yesterday that the airline is profitable and debt free, and looks to further expand its fleet in 2024.

According to reports at ANA-MPA, he said, “2023 concludes with the company having flown 4.5 million passengers and income reaching 360 million euros.” The announcement was made during a ceremony in Larnaca, Cyprus to name the company’s A321 Neo aircraft.

SKY Express has also increased its market share from 29% to 30-33% while occupancy rates reached 74%, up from 68% previously.

Pre-bookings for next year are a cause for optimism for 2024 as they show an increase of 75% compared to last year, leading the company to believe that it will continue its positive trajectory.

Regarding SKY Expresses’ plans to further expand its fleet, it announced that it will add four new ATR72600 and two Airbus 321 Neo. The new Airbuses will have CFM engines as opposed to those of Pratt and Whitney, which have proven to be problematic.

The new airplanes are steps in the right direction when it comes to environmental targets, said the President, because they consume 20% less fuel and therefore produce less emissions.

SKY Express was founded in 2005 and since then has been one of Greece’s fastest growing airlines.