AEGEAN is setting its sights on the Indian market starting in 2026, leveraging the capabilities of two new A321neo XLR aircraft. These additions bring the airline’s total new Airbus orders to 60 and the overall investment to $4 billion by 2031. Looking ahead to 2028, AEGEAN is also targeting seasonal destinations such as the Seychelles and Maldives, as well as sub-Saharan African cities like Nairobi, Lagos, and even Cape Town.
The airline’s new “special mission” fleet—with a range initially up to 8 hours—is already in development following a January 2024 order for four A321neo LR aircraft. These planes are key to opening new routes to Asia and Central Africa. However, due to persistent industry-wide delays in aircraft production, procurement, and supply chains, delivery timelines have shifted. The first two LRs are now expected in 2027, with the remaining two arriving in 2028.
To seize market timing and become the first Greek airline to enter India, AEGEAN decided to acquire two XLR aircraft already in production. These models offer an extended range of 10.5 hours—2.5 hours more than the LR version—reaching distances of 8,500 km compared to 6,200 km for the LRs. The added range allows for more destination options, with upgraded comfort in both business and economy class.
“The comfort level of these aircraft allows us, assuming our India move succeeds, to see how far we can really go with them,” said AEGEAN Chairman Eftichios Vassilakis, emphasizing the importance of building operational culture around long-haul flights—something AEGEAN hasn’t done before, with its flights historically capped at five hours.
Gaining a Competitive Edge
Explaining the strategic choice of India, Vassilakis highlighted the country’s massive potential: over 1 billion people, with more than half earning above €53,000 annually—compared to only 2% of Greece’s 10 million population earning over €50,000. “That’s about 40 times more potential travel demand than Greece. While Greeks make around 6 million trips, Indians could theoretically make 240 million—and currently make less than 30 million,” he explained.
Starting in late March, AEGEAN will launch five weekly flights to New Delhi, followed by three weekly flights to Mumbai from May.
When asked about ticket pricing, Vassilakis said AEGEAN will position itself competitively by benchmarking indirect flight options through the Gulf or Istanbul, primarily via Emirates, Turkish Airlines, and Qatar Airways. “We must be competitive. Our aim, especially in business class, is to match their offering while providing faster access,” he noted.
The two new aircraft will feature 138 seats instead of the usual 220, including 24 lie-flat Business Class Suites with enhanced privacy. “This won’t be a cheap trip, but it will be a very high-quality one,” he remarked. For the flight to be profitable, the aircraft needs a load factor of at least 70-75%. If 60-70% of Business Class seats aren’t sold at good prices, the flight won’t be financially viable.
Vassilakis emphasized that a key success factor will be securing partnerships with one of India’s two dominant carriers—Air India or IndiGo, which together hold 90% of the domestic market. He also called on the Greek government—especially the Ministry of Foreign Affairs and consular services—to speed up the visa process to support this initiative. Enhancing air navigation services was also highlighted as a priority to maintain high service standards.
Next Destinations on the Horizon
Vassilakis remained cautious when discussing future long-haul destinations, stressing that success in India will determine subsequent plans. These decisions will be made post-2027 as the fleet of long-range aircraft expands to six.
AEGEAN already flies to destinations like Dubai, Marrakech, and Egypt—primarily winter routes catering to Greek travelers. The company is exploring similarly seasonal markets, including Cape Town, which falls within the XLR range.
The new aircraft will also strengthen AEGEAN’s competitiveness on existing 4-5 hour routes—like Dubai and Riyadh—where the airline faces competition from Qatar Airways, Emirates, and Saudia, which operate similarly equipped aircraft.
Depending on how the India routes evolve and with the gradual integration of the A321neo LRs by 2028, other destinations may be explored—such as Bangalore (India), the Seychelles, the Maldives, Nairobi, Lagos, and Almaty.
Finally, when asked about potential routes to the US or Canada, Vassilakis reiterated that such plans are currently not feasible with these aircraft and are not on the table for now. However, he did leave the door open: “If in 3–4 years everything has gone exceptionally well and AEGEAN has solid footing in these new markets, we might reconsider long-haul flights.”
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