Aegean Airlines Enhances Fleet with Two A320-200s via Wet-Lease Deal with Cyprus Airways

Aegean Airlines, based in Athens, Greece, has entered into a long-term ACMI (Aircraft, Crew, Maintenance, and Insurance) contract with Cyprus Airways for the wet-lease of two A320-200 aircraft throughout 2024. This strategic move began on December 19, 2023, when the first leased aircraft commenced operations for Aegean Airlines.

The initial aircraft was transferred from Larnaca to Thessaloniki on December 18 and embarked on its inaugural flight for Aegean Airlines to Prague Václav Havel Airport the following day, as indicated by Flightradar24 ADS-B data. The second aircraft is scheduled to start operations with the Greek carrier in March 2024.

Cyprus Airways, apart from these two A320-200s, also operates a fleet comprising two A220-300s. The airline is considering expanding its A220 fleet, viewing this aircraft type as a cornerstone for its future operations. Cyprus Airways serves a highly seasonal market, which has recently faced challenges due to decreased demand from and to Israel, a crucial international market for Cyprus, primarily affected by the conflict in Gaza.

Cyprus Airways’ CEO, Paul Sies, expressed enthusiasm and pride in advancing the airline’s strategic collaboration with Aegean Airlines. This partnership builds on an existing extensive codeshare agreement, which focuses on enhancing and optimizing their joint services and products.

Aegean Airlines, on the other hand, boasts a diverse fleet including twenty-eight A320-200s, sixteen A320-200Ns, five A321-200s, twelve A321-200NXs, nine ATR72-600s, and one DHC-8-100. The turboprops are operated under the Air Operator Certificate (AOC) of Olympic Air. This wet-lease agreement signifies a significant development in Aegean Airlines’ operational capabilities, offering expanded service and efficiency.