Aegean Airlines wet leases two A320s from Cyprus Airways

Cyprus Airways.
Photo Credit: Cyprus Airways.

Aegean Airlines and Cyprus Airways have recently inked a long-term ACMI (wet lease) agreement.

This arrangement involves the leasing of two Airbus A320 aircraft, complete with flight and cabin crews, from the Cypriot flag carrier to the Greek flag carrier.

The collaboration, facilitated by aviation and ACMI specialists, Zela Aviation, is slated to bring about significant benefits for both parties involved.

The Lease Details

The first Airbus A320 is scheduled to be placed on line with the Aegean fleet this month, marking the initiation of this ACMI partnership.

Following suit, the second aircraft lease is slated to commence its operations at the end of March 2024.

This timeline is scheduled approach which aims to ensure a smooth transition into service and operational integration.


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Zela Aviation’s Role

The coordination of the wet lease venture lies the expertise of aviation and ACMI specialists, Zela Aviation. Their role in facilitating this agreement underscores the importance of industry-focused professionals in bringing together two major flag carriers.

Andreas Christodoulides of Zela Aviation expressed pride in their involvement, emphasizing the strengthened synergies between Aegean Airlines and Cyprus Airways.

This ACMI agreement unfolds as a win-win proposition for both Aegean Airlines and Cyprus Airways. The Cypriot carrier stands to expand its fleet, leveraging the opportunity for better economies of scale.

Simultaneously, Aegean Airlines gains an efficient avenue to augment its capacity over the next 12 months.

This symbiotic relationship transcends a traditional lessor-lessee dynamic, emphasizing a strategic partnership geared towards shared success.

From Codeshare to Operational Collaboration

Paul Sies, Chief Executive of Cyprus Airways, expressed satisfaction with the evolving collaboration, stating, “We are very happy and proud to take the next step in our strategic cooperation with Aegean.”

Highlighting their existing extensive codeshare agreement, Sies emphasized the depth of their collaboration, now extending to operational aspects.

This evolution signifies a commitment to optimizing joint products and services, underscoring the forward-looking nature of this partnership.

Andreas Christodoulides of Zela Aviation added his perspective, stating, “We are very proud to have facilitated this project and worked with both flag carriers to see them cooperate further together.”

He emphasized the belief in enhancing synergies between the two companies, not only benefiting Aegean Airlines and Cyprus Airways but also elevating the overall experience for their customers.

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By Len Varley - Assistant Editor 3 Min Read
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