Olympic Air Receives First Q400 Aircraft

Q400 aircraft.

The new Olympic last month received its first Q400 aircraft with the new Olympic Air colors and logo.

The airline is expected to receive seven more by October at a total value of some $250 million.

The Q400 aircraft, that are to replace the ATR-type aircraft currently used by Olympic Airlines, has a quiet engine, low operating cost and a capacity of 68-78 seats.

Μarfin Investment Group has the option to purchase eight additional aircraft (type Q400NextGen), which would bring the total number of orders to 16 at a total cost of $468 million.

The Q400 and Q400NextGen aircraft will join the fleet of Olympic Air in the coming months and be used by the new airline for domestic routes and especially non-profit lines.

Olympic Air’s Chief Executive Officer Antonis Simigdalas told the Greek press that MIG is implementing an investment program of over $920 million.

An ongoing international tender is currently in the works for the supply of jet aircraft, an investment of some $500 million.

Also, as of last month the Athens-Ioannina flight, which from October will be fully operational, was launched via the new aircraft. The daily flight lasts 35 minutes.

According to press reports, the Q400 aircraft are considered the most modern and secure in the world and are to significantly enhance the Ioannina route.

Olympic Air’s strategy was presented during July at a meeting in Thessaloniki with tour operator executives from Epirus, Macedonia and Thrace.

During the meeting it was mentioned that new offices of Olympic are to operate in northwestern Greece under the supervision of Nikos Pavlou and will cater to the airports of Ioannina, Aktio, Kerkyra, Kozani and Kastoria.