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The order is the largest by a Greek carrier and one of the
biggest investments by a private Greek company since the
country's debt crisis broke out in 2010.
Seeking to reduce maintenance costs, Aegean, a member of the
Star Alliance airline group, had been weighing its options
between the Airbus A320neo and Boeing's <BA.N> 737 MAX.
"Today is a very important day for Aegean," Vice-Chairman
Eftychios Vassilakis said during a news conference. "We
confirmed our commitment to improve our competitiveness for
signing a deal for an order of up to 42 aircraft.
It is the third time in 19 years that the company is investing
in new airplanes, Vassilakis said.
Aegean said it had signed a Memorandum of Understanding with
Airbus. The agreement, it said, included the firm order of 30
aircraft - of the A320neo family - with the option of 12
additional aircraft with new generation engines that offer fuel
savings of 15 percent.
The agreement is part of the company’s overall fleet expansion
and renewal program, expected to take place between 2020 - 2025,
Aegean said.
The company wants to replace its aging mostly-Airbus jet fleet
and add capacity for future expansion.
The airline, which flies domestic and international routes, also
owns former flag carrier Olympic Airlines, which was privatized
in 2010. Most of its current leases need to be replaced between
2019 and 2023.
Last year, Aegean grew full-year net earnings by 87 percent on
an improved load factor and higher sales riding a strong tourism
year. In 2016 it flew a total of 13.2 million passengers.
(1 euro = $1.2387)
(Reporting by George Georgiopoulos; editing by Jason Neely and
Jane Merriman)
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