Inbound scheduled seats to Greece drop 7% in 2019 due to Brexit, Germania insolvency: SETE

20 February, 2019

SETE Intelligence reported (19-Feb-2019) inbound scheduled seats to Greece decreased 7% year-on-year in 2019 to 1.3 million. Scheduled seats from leading markets UK and Germany decreased 6% and 16% respectively to 4.0 million for each. SETE noted the following reasons for the decline:

  • Economic slowdown in the Eurozone, with Eurozone economies projected to grow at slower rates in 2019;
  • 'No deal' Brexit concerns due to failure of UK and the EU to reach an agreement;
  • Rise of Turkey as a tourism destinations with competitive travel prices;
  • Bankruptcy of Germania, which had scheduled approximately 381,000 seats. [more - original PR - Greek]