Aegean Airlines preps bond issuance

Lauren Eldershaw
By Lauren Eldershaw February 28, 2019 15:52

Aegean Airlines preps bond issuance

Aegean Airlines is preparing to issue a €150-200 million common bond loan through a public offering. The airline said that the implementation of the transaction will depend on market conditions.

The Greek airline has recently announced seven new destinations and an increased capacity. Specifically, Aegean plans to increase the capacity of its international network by 700,000 thousand seats, reaching a total of 10.3 million seats in the international network and 17.7m seats in total, including the domestic network. Increased capacity is offered throughout the year, with the growth stemming mainly from the increase during the winter months as well as at the beginning and at the end of the summer season.

In 2019, Aegean plans to launch new routes from Athens to Marrakech, Casablanca, Ibiza, Valencia, Sarajevo, Tunis, Skopje, and from Thessaloniki to Hannover.

Aegean will increase frequency and capacity to key Western European markets, from Athens to Munich, Düsseldorf, Berlin, Hamburg, Zurich, Vienna, Madrid, Barcelona, Lisbon and Porto. The increase in the capacity will also come from the initiation of several seasonal routes either earlier in the year or through increased frequencies to Luxembourg, Malta, Venice, Bologna, Naples, Catania and Malaga. In addition, increased capacity will also be offered to Balkans and Eastern Europe.

Dimitris Gerogiannis, CEO of Aegean, said: “We consistently create new destination options for our passengers, along with the offer of new services. We consistently and constantly respond to the significant new investments of tourism entrepreneurs who offer new upgraded hotel units, trying also from our side to contribute to the extension of the tourism period. This effort will allow us to exploit our own investments in aircrafts and technology. The coordinated contribution and investment from industry stakeholders together with the right State policies that would promote sector competitiveness can lead to the further development of Greece’s Tourism product.”

Lauren Eldershaw
By Lauren Eldershaw February 28, 2019 15:52