Aegean has announced that, following the completion of tender process, it is proceeding with the signing of a Memorandum of Understanding with Airbus, for the order of up to 42 new generation aircraft of the A320neo family.

The investment is valued at 5 billion USD at list prices, and it 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 markets. 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 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.