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Greek Airline Invests Five Billion In Airbus Aircrafts

Dorathy Gass

Greek air carrier Aegean recently announced a five-billion-dollar deal recently to purchase 30 Airbus aircrafts, with a possible 12 additional units, in an investment effort to improve its fleet. This goes hand-in-hand as the nation anticipates an upheaval in tourism, once again, for 2018.

Travelweek reported that the airline stated its plans on signing this deal of understanding with Airbus for 30 A321neo and A320neo aircrafts. In addition to the option of adding 12, the partnership is valued at five-billion at list prices, which would make it the largest private investment for the country of Greece, this according to Aegean. More often than not, air carriers generally discuss prices lower than list price during negotiations.

The final purchase signing agreement is anticipated to take place sometime in June of this year.
Aegean’s Vice Chairman, Eftichios Vassilakis chimed in on the agreement by stating that this was a big moment for the company and is occurring despite the country’s current financial issues and challenges around competition internationally.

Amongst a plethora of bad news in recent years, Greece is anticipating a record year when it comes to tourism in 2018. According to figures from the Bank of Greece, the country had 27 million tourists visit last year.

Aegean will be given a choice of two engines for the air crafts, either Pratt and Whitney or CFM International. The air carrier has stated it was in discussions with the two manufacturers and will state its choice of engine by this July.

With 19 years under their belt, the Star Alliance airline has 58 planes in its fleet right now and plans to hit 80 destinations in 2018; this goes hand-in-hand with their subsidiary, Olympic Air.

Some positive news to hear about a beautiful country that lands on many people’s travel bucket lists, year in and year out. Sadly, their financial crisis has plagued mainstream news; here’s hoping things will start to look up for Greece, its citizens, and the tourists who love to visit.