New aircraft for OA

Marfin Investment Group (MIG) announced on Wednesday that a subsidiary has signed a firm order for eight Q400 aircraft, including 5 Q400 NextGen airliners, for Olympic Air, with options on an additional eight NextGen airliners. The order is estimated at 224 million US dollars, and delivery is expected to commence in July, ahead of the new airline’s assumption of the formerly state-owned Olympic Airlines’ (OA) flight operations on October 1.

According to the MIG announcement:

Marfin Investment Group (MIG) hereby announces its subsidiary, has signed a firm order for eight Q400 aircraft, including five Q400 NextGen airliners, and has taken options on an additional eight Q400 NextGen airliners.

The value of the firm order contract is approximately $224 million US and could increase to $468 million US if the eight options are exercised.

The Q400 and Q400 NextGen aircraft will be operated under the Olympic Air brand name. The aircraft will be added to Olympic Air’s fleet in the following months as their delivery is expected to commence in July. It is hereby reminded that the new airline, Olympic Air, will assume Olympic Airlines’ flight operations from 1st October 2009.

“Our plan to build Olympic Air is executed consistently and intensely. Our aim from 1st October onwards is to present to our passengers a modern fleet, comprised of state-of-the-art aircraft, and a new airline offering high quality services”, said MIG’s President, Andreas Vgenopoulos.

“The Q400 airliners are an important part of Olympic’s fleet replacement program intended to introduce state-of-the-art air transport technology in Greece’s regions,” said Antonis Simigdalas, Chief Executive Officer, Olympic Air. “The Q400 aircraft has gained an enviable reputation for its passenger comfort, speed, fuel economy, reduced environmental footprint and advanced technology. The Q400 NextGen aircraft’s new interior offers passengers even greater comfort and we believe that it will introduce a new level of service in Greek regional networks.”

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