Black Sea Trade and Development Bank Supports Fleet Renewal and Tourism Growth in Greece

Strategic Insights -

The Black Sea Trade and Development Bank (BSTDB) has invested EUR 15 million in a bond issued by Aegean Airlines S.A. (AEGEAN), Greece's national flag carrier. The bond issue, worth EUR 250 million, aims to finance AEGEAN's fleet renewal program, including the acquisition of new, energy-efficient aircraft. This investment is expected to strengthen AEGEAN's competitive position in the region, enhance Greece's connectivity, and generate economic benefits across the tourism and infrastructure sectors.

Key Takeaways:

  • The BSTDB has subscribed EUR 15 million in the second bond issued by Aegean Airlines S.A. (AEGEAN) to finance fleet renewal and working capital requirements.
  • The EUR 250 million bond issue is earmarked for the acquisition of new, energy-efficient aircraft and working capital requirements.
  • The investment is expected to strengthen AEGEAN's competitive position in the region, enhance Greece's connectivity, and generate broad economic benefits across the tourism and infrastructure sectors.
  • This marks BSTDB's second investment in AEGEAN, following its participation in the company's debut bond issue in 2019.
  • The BTSDB has supported 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.
  • AEGEAN operates a fleet of 85 aircraft and provides scheduled, chartered, and cargo services across 158 short and medium-haul destinations.
  • AEGEAN is listed on the Athens Stock Exchange since 2007, with a market capitalization of EUR 1.18 billion, and is considered one of Greece's blue-chip corporates.
  • AEGEAN has been a member of Star Alliance since 2010 and has been recognized as Europe's Best Regional Airline by Skytrax 14 years in a row.

Statistics:

  • EUR 15 million: BSTDB investment in the second bond issued by Aegean Airlines S.A.
  • EUR 250 million: Bond issue size to finance AEGEAN's fleet renewal and working capital requirements.
  • 85: Number of aircraft in AEGEAN's fleet.
  • 158: Number of short and medium-haul destinations served by AEGEAN.
  • EUR 1.18 billion: Market capitalization of Aegean Airlines S.A.
  • 2010: Year AEGEAN joined the Star Alliance.
  • 2019: Year BSTDB participated in AEGEAN's debut bond issue.

Sources:

  • Black Sea Trade and Development Bank Press Release, 07-Jul-2025
  • Aegean Airlines S.A. (AEGEAN) website, www.aegeanair.com
  • Black Sea Trade and Development Bank (BSTDB) website, www.bstdb.org