AEGEAN announces its intention to proceed with an agreement to promote and support the emblematic “Hellinikon Development Project”, the largest project in Greece which is expected to add new momentum to Athens Tourism.
AEGEAN has agreed an MOU with Lamda Development for the promotion of the Hellinikon Development Project. As per the agreement, AEGEAN will use its inflight media to present its passengers with project material and information relating to the new services, experiences and products that become available as the project evolves. The objective of the effort is to amplify awareness of the project and therefore, contribute to its successful progress.
AEGEAN’s brand, as “the Official Hellinikon Project Air Carrier”, will become an intrinsic part of Greece’s most transformative development project which is expected to positively impact the Athens tourism sector for the years to come. AEGEAN’s affiliation with the project will be referred to and presented by Lamda, the project’s developer, both in Greece and abroad.
As AEGEAN operates in 44 countries, with a network of 151 destinations and carries 14 million passengers annually, the cooperation and cross promotion is expected to yield significant synergies and benefits to both parties.
Further to promoting the project, AEGEAN will proceed with a “vote of confidence” investment by acquiring Treasury Shares amounting to 1.66% of listed Lamda Development’s share capital. Furthermore, AEGEAN intends to participate in the upcoming capital increase of Lamda by exercising the rights of the acquired shares. The intended aggregate investment in both stages is expected to reach 20 million euros.
Mr. Eftichios Vassilakis Executive Chairman of AEGEAN commented:
“The Hellinikon Project is a transformational development of utmost national significance taking place, at the center of our activity, our Athens hub. It will serve to further upgrade the image of Athens internationally, as well as mitigate tourism seasonality, by creating new products and reasons to visit, helping the city become an even more attractive city break destination. AEGEAN, the main Carrier of Greece and Athens, has every reason to support a project that creates such powerful synergies to all tourism constituents”.