Greece’s Bold Move: Using Warrant Rights for Aegean Airlines

Aegean Airlines announced that the Hellenic Republic (Greece) has informed them of its intention to use the warrants it holds for the company’s shares on November 3, 2023.

Aegean Airlines’ President, Eftychis Vassilakis, supports repurchasing the rights for 85.4 million euros and has confirmed the company’s ability to do so, as they have the necessary funds. The Greek state has expressed its intention to exercise the warrants, and Aegean is prepared to buy them back.

“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.”

Aegean Airlines sees the exercise of the warrants as the final step in overcoming the pandemic’s challenges.

They acknowledge the support of shareholders, employees, and passengers and express gratitude to the state for its assistance during this unprecedented time. The company is now focused on further development, higher-value investments, and contributing to the country’s economy and infrastructure.

Aegean Airlines, founded in 1987 and headquartered in Athens, Greece, is the country’s largest airline. Operating primarily from Athens International Airport, it offers an extensive network of domestic and international routes, serving various European cities and Greek islands. As a member of the Star Alliance, Aegean provides passengers with extensive connectivity options through its partner airlines. Known for its quality in-flight experience and awards for customer service, it offers multiple service classes.

SOURCE: Greece’s Bold Move: Using Warrant Rights for Aegean Airlines