AEGEAN is investing €140 million to establish a new Maintenance, Repair and Overhaul (MRO) facility in Greece with a flight simulator center for pilots and cabin crew.
AEGEAN expects the facility to create around 500 and a total of more than 1,100 new direct and indirect high-skilled jobs over a 5-7 year period. According to AEGEAN, there will be significant financial benefits for the Greek State with tax revenues and contribution of more than €400-450 million expected during the concession period.
AEGEAN has also entered a Memorandum of Understanding (MoU) with Athens International Airport (AIA) for the long-term lease of Olympic Air’s old technical base in the airport, for its repair, operational, and energy upgrade as well as for the acquirement of new equipment. With a capacity of 85.000 m2, a significant gap will be filled in infrastructure at local level for third party support services through two main parallel activities:
- The maintenance and support center (MRO), with the development of 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, utilizing up to 6 state-of-the-art flight simulators for the main airline types as well as facilities for carrying out special cabin crew training.
AEGEAN believes the facility will be one of the first green hangars in Europe, with energy upgrades set to be applied to the building facilities, including the installation of 35,000 m2 of photovoltaic panels, with a power generating capacity of 3 MW, or 4,4 Gwh annually.
AEGEAN Chairman Eftichios Vassilakis, said: “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.”
Dimitris Gerogiannis, CEO of AEGEAN, commented: “With our new investment, we further enhance the competitiveness and technical capabilities of AEGEAN and expand our operations. At the same time, we provide a viable solution for the entire aviation industry in Greece, by supporting the prospects and dynamics of the sector in a expanding international market with strong potentials. With a strong environmental orientation, fully harmonized with our company’s wider sustainability roadmap, but also with a strong social, environmental, and national positive impact. Having though, at its epicenter our human capital. Our goal is that all pilots and engineers of the Greek airline sector to have worked for AEGEAN and acquired their skills. To become a talent and skills incubator for AEGEAN’s people and the country.”