Greek carrier Aegean signs $5 billion order for Airbus A320 neo planes

Greece's largest carrier Aegean Airlines signed a $5 billion deal with Airbus for up to 42 aircraft to renew its fleet of single-aisle planes, stay competitive and add capacity for future expansion.

It is the largest order by a Greek carrier and third time Aegean has invested in new aircraft since launching operations 19 years ago.

Seeking to reduce maintenance and fuel costs, Aegean, a member of the Star Alliance airline group, had been considering the Airbus A320neo or Boeing's 737 MAX. It picked Airbus in late March.

"I believe it is a good day for Greece with the news coming out of Brussels, but certainly a very good day for Aegean and Airbus," Airbus CEO Tom Enders said at a signing ceremony at Aegean's technical base at Athens airport.

Earlier on Friday Greece reached an agreement with euro zone finance ministers, securing debt relief to smooth out its...