Aegean Airlines may have its sights fixed on this summer season, but it is also making long-term plans that will give the carrier increased flexibility.
Oversubscribing the bond it issued early last month is one of the weapons in its management's arsenal, strengthening the firm's negotiating position as it discussed the funding of the new aircraft delivery with its creditors.
The US Bankruptcy Court for the Southern District of New York has approved Aegean Marine Petroleum's reorganisation plan following the company's filing for Chapter 11 protection under US bankruptcy law.
The plan is the product of extensive negotiations between Aegean Marine Petroleum and a large number of its creditors.
A new sea link between Greece's Lavrio and Turkey's Cesme ports will be launched in June in what is expected to boost trade between the two Aegean neighbors by circumventing long overland travel for large trucks, state-run Athens-Macedonian news agency reports. The line will also serve tourists wishing to travel between the two countries.