Greek airline Aegean Airlines will order 42 new Airbus aircraft worth 4 billion EUR. This is one of the biggest investments of a Greek private company since the crisis began in 2010. The management of the company said that for the last 19 years this is the third investment in new aircraft. The agreement with Airbus envisages the delivery of 30 A320neo aircraft as well as 12 new generation A321neo aircraft, which are offering fuel savings of up to 15%. The signing of the final purchase agreement is expected in June.
All the airplanes will be delivered between 2020 and 2025.
With this move, Aegean Airlines will renew its outdated aircraft fleet and will be able to prepare for expansion in the market. The company operates flights on domestic and international destinations. It is also the owner of Olympic Airlines, which was privatized in 2010.
In 2017, Aegean Airlines reported a 87% profit growth, due to improved performance and increased sales associated with the record summer season in Greece.
Aegean currently operates one A319-100, thirty-seven A320-200s, and ten A321-200s on flights to 94 destinations in 40 countries spanning Europe (North, South, East, West, Central), Russia & the CIS, North Africa, and the Middle East/Gulf regions.
