Greek Government's €85.4M move shakes Aegean Airlines

Aegean Airlines on Monday announced that the Hellenic Republic submitted notification of its intention to exercise the rights granted by all the warrants it holds concerning the company’s shares on November 3, 2023.

In a statement, the president of Aegean, Eftychis Vassilakis, was in favor of buying back these rights, which will cost 85.4 million euros, stating: “As announced, we received the Greek state’s letter of intent to exercise the warrants. We have repeatedly stated that Aegean has both the liquidity and the funds to buy them out.

“My proposal to the board of directors and to the general assembly of shareholders (which will take the final decisions), will be for the company to proceed with the acquisition of the rights by the Greek state, paying the amount of €85.4 million.

“In this way, the last part of the particularly painful cycle of the pandemic will end, from which the company is, however, emerging stronger in all areas with the assistance of its shareholders, its employees and also the passengers who choose us every day in 165 destinations.

We thank the state for supporting us during this unprecedented time and we continue with development and investments of even higher added value and contribution to the country’s economy, capabilities and infrastructure.”