Greek carrier Aegean Airlines reported on Monday a loss of EUR4.4 million euros (USD$6.86 million) in the first quarter, wider than the EUR2.6 million deficit in the same period last year.
Aegean said a 57 percent jump in energy costs due to the sharp rise of oil prices hurt its results.
The carrier, which competes with state-owned Olympic Airlines, flies domestic and international routes. Traffic rose 10 percent to 1.1 million passengers as it took delivery of four new A320 aircraft.
"Aegean continued to expand its business in the first quarter amid challenging conditions created by the rise of oil prices to unprecedented levels," Managing Director Dimitris Gerogiannis said in a statement.
The airline has been renewing its fleet and wants to add more destinations.
It went public in 2007 and its shares have fallen 24.4 percent since the start of the year, underperforming the broader Greek market which is down 17.8 percent.
The stock trades around 11 times its estimated 2008 earnings, compared with a multiple of 10 for the European airlines sector.
