Julian Moxon/PARIS
Aegean Airlines plans to expand its fleet with up to 12 aircraft in the 140-150-seater class once the take-over of Cronus Airlines is completed. The airline is preparing an expansion strategy based on a combination that will see it become the largest privately owned carrier in Greece at the same time as the new airport at Athens-Spata opens on 28 March.
The merger will leave Aegean majority shareholder, the Vassilakis Group, with 77.5% of the shares, the rest being held by Cronus. The two will continue as separate entities until the merger is approved by the Greek authorities. "We will then expand as a single airline," says Aegean chief operating officer Antonis Simigdalas. A single Cronus-owned Boeing 737-300 will be repainted in Aegean livery to provide supplementary capacity for the summer season.
Initially, Cronus will focus on international routes with its Boeing 737-300/400s, and Aegean will maintain the regional presence it has built up with its Avro RJ100s since beginning operations in 1999. Simigdalas says the two will have a near-40% share of the Greek market and the merger "will leverage the complementary nature of each carrier's network".
The carriers "want the distortions in the Greek market abolished" when national carrier Olympic Airways is privatised, says Simigdalas. "The government must abide by European Commission rules [on subsidies to national airlines]. There's too much political inertia governing the running of the airline."
Fleet plans centre on an eventual decision to acquire as many as 12 140-150-seaters, either Boeing 737-700/800s or Airbus A320s.
Currently the two operate 15 aircraft on scheduled services: six 737-300/400s, six RJ100s and three ATR42s. "We will also extend the turboprop base to cater for domestic expansion," he says.
Source: Flight International
