AEGEAN Creates First Aviation Ecosystem for Greece

4 January 2023

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Image credit: Aegean Airlines

AEGEAN is investing €140 million to establish the first Maintenance, Repair and Overhaul (MRO) Facility, as well as the first Flight Simulators Center in Greece. The investment is expected to create up to 500 and a total of more than 1,100 new direct and indirect high-skilled jobs over a 5-7 year period. At the same time, it is estimated that the financial benefits for the Greek State will be significant as tax revenues and contribution of more than 400-450 million euro are expected during the concession period.

AEGEAN enters an Memorandum of Understanding with Athens International Airport (AIA) for the long-term lease of the old Olympic Air’s technical base in Athens airport, which remains idle for over a decade, for its repair, operational and energy upgrade as well as for the acquirement of new equipment. With this investment and mainly with the further growth and development of AEGEAN’s expertise, the airline is creating a modern integrated ecosystem of support services for air transport and the overall industry. With a capacity of 85.000 m2, is able to fill a significant gap in infrastructure at local level for third party support services through the MRO facility and the simulation and training center.

The maintenance and support center (MRO), will be developed with a technical base of up to 10 maintenance, repair and technical control positions for various types of aircraft.

The Simulation and Training Center for pilots and cabin crew members, will utilize up to six flight simulators for the main airline types as well as facilities for carrying out special cabin crew training.

The Engineering Training School of Olympic Air and AEGEAN’S Pilot Training Center will join the same ecosystem.

AEGEAN Chairman Eftichios Vassilakis commented: “We are creating a hub, an aviation ecosystem for maintenance and training services, with significant added value for the local aviation industry and strong extroversion potential while filling a significant gap in the entire aviation industry. This investment is bringing back in Greece a vast range of services that up to date have been performed abroad whereas at the same time and, upon maturity, it creates a new dynamic and full potential maintenance and 3rd part training center. Through this investment, Greece and Athens International Airport are being positioned in the map of international aviation support services.  At the same time, it creates opportunities for upskilling, reskilling and growth for our people and many new job opportunities in an industry with a strong growth perspective”.

At the same time, the project will enable the technological modernization and energy upgrade of the building facilities, through the installation of 35,000 m2 of photovoltaic panels, with a power generating capacity of 3 MW, or 4,4 GWH annually, that will create one of the first "green" hangars in Europe, in one of Europe’s "greener" airports.

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