BSTDB Backs AEGEAN’s Bond Issue with EUR 15 million Investment
Supporting fleet renewal and tourism sector growth in Greece
The Black Sea Trade and Development Bank (BSTDB) subscribed EUR 15 million in the second bond issued by Aegean Airlines S.A. (AEGEAN), Greece’s national flag carrier. The EUR 250 million bond issue is earmarked towards the financing of the airlines’ fleet renewal program, including the acquisition of new, energy-efficient aircraft equipped with extended range capabilities and high-comfort configurations and also working capital requirements.
The BSTDB funding aims to strengthen AEGEAN’s competitive position in the region, enhance Greece’s connectivity, and generate broad economic benefits across the tourism and infrastructure sectors—two of the most dynamic pillars of the Greek economy.
This marks BSTDB’s second investment in AEGEAN, following its participation in the company’s debut bond issue in 2019. The continued partnership underscores BSTDB’s commitment to supporting Greece’s strategic enterprises and sustainable development objectives.
“Our investment in AEGEAN reflects our confidence in the company’s vision and the vital role it plays in strengthening regional connectivity and economic resilience,” said Dr. Serhat Köksal, President of BSTDB. “By supporting fleet modernisation and energy efficiency, we are contributing to both climate goals and long-term growth in a sector central to Greece’s economy.”
“We are grateful to BSTDB support and participation in our recent bond issuance, and we remain committed to honoring that trust as we continue to execute our strategy,” said Mr. Dimitris Gerogiannis, CEO of AEGEAN. “Our second bond issuance marks an important milestone for AEGEAN, not only purely on the grounds of the financial success of the transaction but primarily because it comes at a time when our Company is much stronger than our debut issue in 2019 in all aspects of network coverage, financial performance and overall contribution to the Greek economy, after being able to navigate one of the most severe crisis in our industry. We welcome BSTDB participation to this important milestone and we look forward to further strengthening our relationship”.
AEGEAN operates a fleet of 85 aircraft and provides scheduled, chartered, and cargo services across 158 short and medium haul destinations. Listed on the Athens Stock Exchange since 2007 with a market capitalisation of EUR 1.18 billion, AEGEAN is considered one of Greece’s blue chip corporates. It has been a member of Star Alliance since 2010 and has been consistently recognised as Europe’s Best Regional Airline by Skytrax, receiving the distinction 14 years in a row. For more details: www.aegeanair.com
The Black Sea Trade and Development Bank (BSTDB) is an international financial institution established by Albania, Armenia, Azerbaijan, Bulgaria, Georgia, Greece, Moldova, Romania, Russia, Türkiye, and Ukraine. The BSTDB headquarters are in Thessaloniki, Greece. BSTDB supports economic development and regional cooperation by providing loans, credit lines, equity and guarantees for projects and trade financing in the public and private sectors in its member countries. The authorized capital of the Bank is EUR 3.45 billion. For information on BSTDB, visit www.bstdb.org.
Contact: Haroula Christodoulou
: @BSTDB
