Olympic Air Takes 45% Stake in Greek MRO Firm APELLA
Olympic Air has acquired a 45% stake in APELLA, a Part 145-certified aircraft maintenance organisation, strengthening its in-house technical capabilities and expanding its presence in Greece’s growing aviation services sector. Under the terms of the deal, APELLA’s founder and current owner, Nikos Kontogiannis, will retain the remaining 55% shareholding and continue in his role as chief executive officer, ensuring operational continuity and leadership stability.
APELLA currently operates a maintenance facility at Athens International Airport, providing approved maintenance services for commercial aircraft. As part of its expansion strategy, the company plans to develop a new maintenance base on a privately owned plot of land near Volos Airport. The new facility is expected to increase capacity, support fleet growth, and position APELLA to serve a wider range of domestic and regional customers.
Olympic Air’s parent company, Aegean Airlines, said the investment is designed to create operational and cost synergies with its existing technical infrastructure. In 2024, Aegean launched a major maintenance and training facility aimed at supporting its own fleet requirements while also developing third-party MRO services. By taking a significant stake in APELLA, the group aims to deepen vertical integration across maintenance, training, and engineering, while improving turnaround times and technical resilience.
The move also reflects broader trends in the European aviation market, where airlines are increasingly investing directly in MRO capabilities to mitigate supply chain constraints, control maintenance costs, and secure access to skilled technical labour. Greece’s strategic location, growing traffic volumes, and competitive operating costs have further boosted its appeal as a regional hub for aircraft maintenance services.
For APELLA, the partnership with Olympic Air and Aegean Airlines is expected to accelerate growth, provide access to a stable base of maintenance demand, and enhance credibility with international customers. The planned Volos facility, in particular, could support long-term expansion by offering additional hangar space and operational flexibility outside the congested Athens hub.
The acquisition underscores Aegean Group’s long-term strategy to build a comprehensive aviation ecosystem in Greece, spanning airlines, maintenance, training, and technical services. As fleet modernisation and traffic growth continue across Europe, the strengthened collaboration between Olympic Air and APELLA positions both companies to capture new opportunities in the MRO market while supporting the group’s own operational needs.
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Sources: AirGuide Business airguide.info, bing.com, ch-aviation.com