Greece’s Aegean Places $5.8 Billion Order for A320neo and A321neo

Jun 22, 2018

This post contains references to products from one or more of our advertisers. We may receive compensation when you click on links to those products. Terms apply to the offers listed on this page. For an explanation of our Advertising Policy, visit this page.

Greek carrier Aegean Airlines has placed an order for 20 Airbus A320neos and 10 Airbus A321neos in a deal that is worth $5.8 billion.

Neo stands for “new engine option” or more recently, “new environment option” and outfits the aircraft with new engines that are designed to save 15% to 20% in fuel, cut down on emissions and aircraft noise. Because the Neos are more fuel efficient, they’ll be able to fly further and serve more distant destinations.

Aegean has the option to purchase an additional 12 aircraft. The airline was deciding between the A320 family and Boeing’s new 737MAX but decided to go with Airbus in March. It has officially confirmed the orders today.

Aegean currently operates a fleet composed solely of narrow-body Airbus aircraft — flying one A319, 37 A320-200s and 11 A321-200s.

An Aegean A320.

The order is a boost to the country’s largest airline and will aid in its growth plans. This is the third time Aegean has placed an aircraft order in its 19-year history. The airline currently serves 150 destinations in 44 countries.

Aegean is a member of Star Alliance — meaning you can redeem miles from any Star Alliance carrier, like United or Aeroplan, on the carrier. Aegean Miles + Bonus program is actually a solid loyalty program with easy options to redeem and earn miles on the airline. You can transfer SPG points straight to Miles + Bonus.

The airline also plans on investing 30 million Euros in a new training center at its hub in Athens (ATH).

This is another win for Airbus, which has seen great success with its A320neo program — it’s received nearly 6,100 orders from 100 different customers for aircraft in the A320neo family.

Featured image courtesy of Airbus. 

Chase Sapphire Preferred® Card

WELCOME OFFER: 80,000 Points

TPG'S BONUS VALUATION*: $1,650

CARD HIGHLIGHTS: 2X points on all travel and dining, points transferrable to over a dozen travel partners

*Bonus value is an estimated value calculated by TPG and not the card issuer. View our latest valuations here.

Apply Now
More Things to Know
  • Earn 80,000 bonus points after you spend $4,000 on purchases in the first 3 months from account opening. That's $1,000 when you redeem through Chase Ultimate Rewards®. Plus earn up to $50 in statement credits towards grocery store purchases within your first year of account opening.
  • Earn 2X points on dining including eligible delivery services, takeout and dining out and travel. Plus, earn 1 point per dollar spent on all other purchases.
  • Get 25% more value when you redeem for airfare, hotels, car rentals and cruises through Chase Ultimate Rewards®. For example, 80,000 points are worth $1,000 toward travel.
  • With Pay Yourself Back℠, your points are worth 25% more during the current offer when you redeem them for statement credits against existing purchases in select, rotating categories.
  • Get unlimited deliveries with a $0 delivery fee and reduced service fees on eligible orders over $12 for a minimum of one year with DashPass, DoorDash's subscription service. Activate by 12/31/21.
  • Count on Trip Cancellation/Interruption Insurance, Auto Rental Collision Damage Waiver, Lost Luggage Insurance and more.
  • Get up to $60 back on an eligible Peloton Digital or All-Access Membership through 12/31/2021, and get full access to their workout library through the Peloton app, including cardio, running, strength, yoga, and more. Take classes using a phone, tablet, or TV. No fitness equipment is required.
Regular APR
15.99%-22.99% Variable
Annual Fee
$95
Balance Transfer Fee
Either $5 or 5% of the amount of each transfer, whichever is greater.
Recommended Credit
Excellent/Good

Editorial Disclaimer: Opinions expressed here are the author’s alone, not those of any bank, credit card issuer, airlines or hotel chain, and have not been reviewed, approved or otherwise endorsed by any of these entities.

Disclaimer: The responses below are not provided or commissioned by the bank advertiser. Responses have not been reviewed, approved or otherwise endorsed by the bank advertiser. It is not the bank advertiser’s responsibility to ensure all posts and/or questions are answered.