Aegean Airlines is to proceed with the signing of a memorandum of understanding (MoU) with Airbus for an order of up to 42 A320neo aircraft.
The investment is valued at $5 billion at list prices, and is the largest private investment in Greece. The new aircraft facilitate the offer of new services to passengers, as well as increased range capabilities for expansion to new destinations and route markets.
Aegean said at the same time, new fleet significantly enhances the company’s competitiveness through substantial operating cost savings.
The agreement includes the firm order of 30 aircraft; comprising of two types of the Airbus A320neo Family (Α320neo & A321neo), with the option for 12 additional aircraft.
The order includes at least 10 aircraft of the largest type of A321neo, with an option to increase this number by further conversions from A320neo to A321neo.
The completion and signing of the final purchase agreement with Airbus, expected in June 2018, will allow Aegean to continue its successful expansion strategy, by increasing its capacity as well as renewing its existing fleet.
In 2017, the carrier operated 46 aircraft from the A320 family, as well as 12 turboprop aircraft. This agreement is part of the company’s overall fleet expansion and renewal program, expected to take place between 2020-25.
Aegean vice chairman, Eftichios Vassilakis said the order marks the beginning of new period of growth and development for Aegean.
He added: “With the investment in new generation Airbus A320neo aircraft, we strengthen our competitiveness and provide a platform that empowers our people to further improve service to our passengers as well the, important, first impression we provide to visitors of our country.”