Aegean to retire older jets faster as A320neo groundings ease

Aegean Airlines is past the worst of the engine-related groundings that hit its Airbus A320neo-family fleet, and it will retire older aircraft faster, the Greek carrier said on a first-half earnings call.

Grounded aircraft peaked at 14 to 15 between March and April, chair Eftichios Vassilakis said, before falling back to 10, the same level as last summer. The airline is now on the declining side of the disruption, he said. Talks with Pratt & Whitney continue on some items, but Aegean expects a substantially lower number of grounded jets next summer and none by the end of 2027.

Aegean took delivery of five more A321neos in the first half, bringing its total to 43, of which 33 are in service. With those aircraft flying, Vassilakis said the carrier will not extend any of its expiring jets. He described them as older aircraft that are increasingly expensive to operate compared with the newer models.

The airline reported a net loss of €3.3 million for the first six months, against a profit of €47.9 million a year earlier. It plans to be more cautious about capacity growth over the coming quarters, pointing to geopolitical uncertainty and higher fuel prices.

Deliveries of A321LRs are due to begin in the first or second quarter of 2027. Vassilakis said the longer-range jets will let Aegean improve service quality on existing routes with a more premium product, demand for which he said is more resilient to rising travel costs.