Aegean Airlines Will Wet Lease 2 Airbus A320s To Help Cover 2024 Services

Greece’s Aegean Airlines will wet lease two Airbus A320 aircraft from Cyprus Airways to add additional seats to its network throughout 2024, with one aircraft already having temporarily operated services on behalf of the Greek carrier. The wet leasing of its two Airbus A320 would mean that half of the airline's fleet would operate flights for other airlines. According to a statement shared by Paul Sies, the CEO of Cyprus Airways, the war in Israel has affected the airline, with the carrier welcoming 41% fewer passengers and operating 12% fewer flights in November 2023 Year-on-Year (YoY). However, the airline said this was offset by an increase in revenues and average fare growth of 21% and 115%, respectively, resulting in a “significant increase in the net income position.” Sies highlighted that Cyprus Airways routes to Dubai International Airport (DXB), Paris Charles De Gaulle International Airport (CDG), and Milan Malpensa Airport (MXP) performed better, helping the airline compensate for the loss of traffic to/from Israel.<br/>