Aegean ‎Airlines signed a Memorandum of Understanding (MoU) with Airbus for 20 A320neo and 10 A321neo aircraft. The order might increase even further – up to 42 new generation aircraft of the A320neo family. The deal is estimated to be worth $5 billion at list prices, making it “the largest private investment in Greece”, according to the company.

The MoU was announced on March 28, 2018, by Airbus and Aegean ‎Airlines in two separate press releases. The French manufacturer claims the signed order includes a total of 30 A320neo family aircraft, also reveling the carrier’s intentions to obtain “a significant number” of 320neos from leasing companies. 

The airline, in turn, states the intention to purchase up to 42 new generation aircraft of the A320neo family, clarifying that the MoU includes the firm order of 30 aircraft with the option for 12 additional aircraft, also detailing that it intends to acquire “at least 10 aircraft of the largest type of A321neo” and this number can be increased by further conversions from A320neo to A321neo.

The company also reveals it was choosing between two companies during the consideration process. “We have worked diligently over more than 12 months, across different Teams within AEGEAN to structure as well as to evaluate the proposals of the two candidate manufacturers, before selecting Airbus,” Dimitrios Gerogiannis, Aegean’s CEO, is quoted saying in a statement by the company. “Our goal was to optimize support conditions but also to set a new starting point for the design of the aircraft’s future exploitation. The technology in these aircraft is excellent. But this is available to many operators. It only becomes a competitive advantage thanks to our people, their skills, cooperation and ethos which should allow us to differentiate ourselves and excel once more.”

The completion and signing of the final purchase agreement is expected in June 2018.

The A321 is the largest member of the A320 Family and seats between 185 and 240 passengers, depending on cabin configuration. Incorporating the latest engines, aerodynamic advances and cabin innovations, the A321neo can fly up to 4,000 nautical miles (7,400 kilometres) non-stop – further than any other single-aisle airliner.

Aegean ‎Airlines is a Greek airline, biggest in the country by numbers of passengers, destinations and fleet size. It operates short and medium-long haul flights using current fleet of 46 Airbus aircraft (37 A320s, 8 A321s and 1 A319) and 12 turboprops. This company is planning an overall fleet expansion and renewal program, expected to take place in 2020 - 2025.