Aegean continues to invest and renew its fleet for regional routes through its subsidiary, Olympic Air, boosting its presence on islands and short domestic routes.
The company recently carried out a share capital increase of €30 million to finance its investments, while a few months ago it received a new ATR 72-600. It has already ordered two more aircraft of the same type, expected this December.
Olympic Air has a total of 16 ATR-type propeller-driven aircraft, of which 12 are ATR 72-600 and 4 ATR 42-600, continuing a strategy that aims for a modern, efficient and environmentally friendly fleet.
These are the company’s short and medium-haul aircraft, ideal for domestic flights and short international routes. Their small capacity makes them suitable for island airports with limited runways, while their lower fuel consumption limits their environmental footprint, making them a viable option for regional routes.
The company benefits from the reduction in seasonality and the extension of the tourism season, trends that enhance market stability. The increase in flights throughout the year and the expansion of the origin market base, inside and outside the European Union, allow the sector to show steady growth.
Olympic Air’s financial results showed in 2024 that customer revenue grew 5.2% from 2023, reaching €116.42 million, thanks to the increase in flights and passenger traffic. EBITDA amounted to €19.1 million, recording a slight decrease of 2.2%, while the net result was a loss of €2.62 million, compared to profits of €3.72 million the previous year.
This summer, Aegean and its subsidiary Olympic will significantly strengthen their domestic flight network, launching new connections between Greek destinations. From Thessaloniki, Olympic operate new routes to Milos and Zakynthos with twice-weekly flights from June 16 to mid-September, enhancing access to the Cyclades and Ionian Islands.
Frequencies are increased on existing connections from Thessaloniki to Hania, Iraklio and Mykonos, improving options for travelers and locals throughout the summer. These additions are part of the group’s broader strategy to improve internal connectivity and meet growing demand in Greek regional markets.
