An Aegean ‎Airlines aircraft. Credit: Airbus SAS/Fixion/dreamstime.com.

Greece-based carrier Aegean ‎Airlines has signed a memorandum of understanding with Airbus to buy up to 42 Α320neo aircraft, list priced at $5bn.

The deal includes a firm order for 30 aircraft, featuring 20 A320neos and ten A321neos, as well as an option for 12 additional aircraft.

It also comprises an option to increase the number of A321neo aircraft by further conversions from A320neo.

Expected to be finalised by June this year, the newly signed deal is set to enable Aegean to support its expansion strategy by increasing its capacity and renewing its existing fleet.

“Aegean has started negotiations with the aircraft’s two engine manufacturers, Pratt & Whitney and CFM International, to select the engine option.”

With the new aircraft, Aegean will be able to offer new services to passengers, as well as work towards its overall fleet expansion and renewal programme, which is scheduled to take place between 2020 and 2025.

Aegean has started negotiations with the aircraft’s two engine manufacturers, Pratt & Whitney and CFM International, to select the engine option. This is expected to be completed by July this year.

Aegean ‎Airlines CEO Dimitrios Gerogiannis said: “We have worked diligently over more than 12 months, across different teams within Aegean to structure, as well as to evaluate, the proposals of the two candidate manufacturers, before selecting Airbus.

“Our goal was to optimise support conditions but also to set a new starting point for the design of the aircraft’s future exploitation.

“The technology in these aircraft is excellent. But this is available to many operators. It only becomes a competitive advantage thanks to our people, their skills, cooperation and ethos which should allow us to differentiate ourselves and excel once more.”

Aegean currently operates a fleet of 46 A320 aircraft and 12 turboprop aircraft.