Posted on: 31 October 2013 by Mark Howells
Aegean Airlines has presented the benefits to the company, passengers and Greek tourism arising from its acquisition of Olympic Air as well as the company’s overall future strategy.
Over the next 6 to 14 months, the synergies resulting from the acquisition will lead to an enhanced fleet and an immediate expansion of the network, as well as the enhancement of connectivity in Greece and abroad, as well as to cost savings – estimated at up to €35 million annually – from the consolidation of administrative services.
Aegean says its aim is to pass these benefits to passengers with more competitive fares, enhancement of privileges for loyal customers of both companies and network expansion.
In terms of benefits arising regarding the prices, Aegean has already announced the launch of two new categories of fares in economy class, the GoLight and Flex fares, which ensure money-saving and unlimited flexibility respectively. These new fares will be offered to Olympic Air’s passengers from February 2014.
The company has also announced a package of initiatives to support the remote areas of Greece, by offering the second lowest fare of €39 from/to remote areas in order to boost the demand, by introducing new charges for the connection between the remote islands and abroad with a significant reduction in travel cost up to €140, as well as by increasing capacity during July-September, at no additional cost to the state, where it is commercially and operationally feasible.
Aegean has also announced the addition of 15 new destinations from Athens in 2014 including Birmingham, Marseille, Nantes, Zurich, Hamburg, Hannover, Nuremberg, Copenhagen, Catania, Abu Dhabi, Beirut and Paphos.
Overall in 2014, 45 to 50 new routes will be added from the airline’s eight bases, including the new base in Chania. As a result, Aegean and Olympic will jointly cover more than 250 routes in 2014, of which 205 or more will be international routes with 47 to 50 domestic routes.
Aegean’s vice-president Eftichios Vassilakis commented, "The conditions for the establishment of a stronger carrier, which will be able to stand in the highly competitive environment that has developed in the region, have been created. Our goal is for Aegean and Olympic Air to lead in the changes in the tourism market in the country and the region."