SKY express Continues Rapid Growth with Fleet Expansion

Greek airline SKY express is preparing for further development by expanding its fleet, enhancing its flight schedule, extending the tourism season, and potentially entering the stock market, if favorable conditions arise.

Speaking during a recent media event, SKY express Chief Commercial Officer Gerasimos Skaltsas highlighted the company’s fleet expansion, which included the addition of a new Airbus A320 neo aircraft on June 27.

Additionally, the company is set to add a new ATR 72-600 to its fleet in July.

The company’s latest investment cycle, which includes the acquisition of six state-of-the-art aircraft (two Airbus A320neo and four ATR 72-600), will be completed in 2025 with the delivery of another Airbus A320neo, bringing the total number of SKY express aircraft to 30.

SKY express Chief Commercial Officer Gerasimos Skaltsas. Photo © Greek Travel Pages (GTP)

According to Skaltsas, SKY express is already in discussions with Airbus for further fleet development.

“The addition of the four new ATRs, which provide the necessary flexibility for many regional airports in Greece, enhances the domestic tourism product by adding 100,000 additional seats this summer to popular Greek tourist destinations in the Cyclades and the Dodecanese,” he said.

SKY express operates year-round to the largest network of domestic destinations, serving 33 Greek airports, and has one of the fastest-growing networks in Europe. This year, the airline will fly to 37 destinations in 15 countries.

Skaltsas mentioned that the company will offer a total of 6.4 million seats to the Greek market this year. Eighty percent of these seats are for routes to and from Athens.

“This represents an addition of 5.2 million seats to and from the country’s largest airport,” he said.

13% market share at Athens Airport

Athens International Airport Director of Communication and Marketing Ioanna Papadopoulou. Photo © Greek Travel Pages (GTP)

SKY express is the second largest carrier at Athens International Airport (AIA) with a market share of 13 percent.

“SKY express is a truly valuable partner, experiencing continuous and dynamic growth,” said Ioanna Papadopoulou, AIA Director of Communication and Marketing, during the media event.

“Since the launch of its operations, SKY express has transported 12 million passengers to and from Athens, performing more than 210,000 flights. The numbers are impressive,” she added.

“The company is firmly on a path of spectacular growth, increasing its market share and adding new destinations each year. SKY express’s success is built on several key characteristics: solid leadership, a coherent strategy, sustainable development, and social sensitivity,” Papadopoulou concluded.

Extending the season

SKY express Chief Commercial Officer Gerasimos Skaltsas. Photo © Greek Travel Pages (GTP)

SKY express’ plans also include actions to extend the tourism season, with the company maintaining the Heraklion-Paris route until the end of November for the first time this year. The company is currently in the process of finalizing its winter schedule, which is expected to be completed by the end of July and will include new destinations. Notably, SKY express has been adding an average of three new itineraries at the beginning of each winter season in recent years.

Referring to the company’s performance in 2023, Skaltsas noted that last year was highly successful and profitable for SKY express.

“The company’s growth momentum was firmly established as we gained the trust of 4.4 million passengers. We expanded our network to include some of the largest markets in Europe, bolstering our presence in Germany with the addition of Dusseldorf and Frankfurt, and extending our reach to Warsaw,” he stated, emphasizing that the company continues to grow and evolve in 2024.

SKY express has initiated strategic alliances with British Airways and Etihad. In July, the company will commence its collaboration with Gulf Air.

Possible listing on the stock market

IOGR Group Founder & President Ioannis Grylos (third from left) with members of SKY express’ Board of Directors and team. Photo © Greek Travel Pages (GTP)

Speaking to journalists on the sidelines of the event, Ioannis Grylos, Founder & President of IOGR Group, of which SKY express is a member, stated that the company’s investments are currently financed through equity.

Looking ahead, Grylos mentioned the possibility of listing SKY express on the stock market, provided that favorable conditions are met.

“The stock market serves as a means to raise capital. While we currently do not require additional funding, a stock exchange listing would acknowledge our efforts and enhance our prestige. However, it also entails responsibilities. We will consider it when the timing is optimal; we have not dismissed the possibility,” he emphasized.

In addition to expanding SKY express’ operations, Grylos highlighted IOGR Group’s strategy to enhance its footprint in the hotel industry. He indicated ongoing discussions for the acquisition of a new hotel on one of the Dodecanese islands, complementing their existing property, the I Resort, located in Crete.

It’s worth noting that IOGR Group initiated a strategic partnership with HotelBrain in 2020.