Why Aegean Airlines is prioritising scheduled business in bid to ride out GTF disruption

Aegean Airlines aims to grow scheduled capacity by around 7% this year despite the pressure the Greek carrier faces on aircraft availability due to ongoing maintenance issues related to the Pratt & Whitney GTF engines that power its Airbus A320neo-family aircraft. The Athens-based carrier has previously indicated it expects around 10 of is A320neo fleet – which it expects to reach 31 this summer – to be grounded this year as a result of the requirement for increased inspections of the PW1100G powerplants. Speaking during a full-year results briefing on 13 March, Aegean Airlines chairman Eftichios Vassilakis says it has now reached a compensation agreement with P&W covering the GTF issues. “It is substantial compensation,” he says, noting exact terms are not being disclosed. “We believe it covers a substantial part of the cost of the issue, not the full cost. The full cost of the issues refers not only to the inefficiencies from the point of view of fuel burn, or seat loss, or maintenance cost, because we will be extending some of our older aircraft to replace the Neos that will not be flying, but also through the reduced ability to grow the company because of the number of aircraft unavailable for a significant period of time.” Extending aircraft leases on its existing fleet is one of a string of measures Aegean is taking to ensure it can continue to increase capacity on scheduled routes in 2024. That also includes cutting seat capacity in its charter business and bringing back a pair of Airbus narrowbodies that had been flying with Romanian charter carrier Animawings – in which Aegean disposed of its stake late last year.<br/>