AEGEAN Increases Stake in Romanian Carrier Animawings to 51 Percent
AEGEAN has increased their stake in Animawings from 25 to 51 Percent. Animawings is a Romanian carrier and part of the Memento Group's Christian Travel. Over time, AEGEAN will co-manage the airline and contribute their expertise to strengthen operations.
On Thursday (October 14, 2021), AEGEAN announced that they have bolstered their equity position in Romanian airline Animawings from 25 to 51 percent. Animawings is a member of the Romanian travel Group, Memento (Christian Tour). Over time, AEGEAN will lend their expertise to co-manage the airline, using their expertise to further strengthen operational activities. AEGEAN originally acquired 25 percent of the airline in early 2020, and with the latest investment has acquired 51 percent of Animawings, representing an investment of €1.3 million.
In Thursday’s announcement, AEGEAN’s CEO, Dimitris Gerogiannis, said,
“The long-standing and successful partnership with Christian Tour, is evolving into a joint business venture in Romania. We strongly believe in the potential of the Romanian market and the capabilities of our partner Memento Group. We will proceed with careful, gradual steps, focusing on quality services to the passengers of the joint airline and as always on further supporting Greek tourism. For us, partnerships through established relationships are embedded on our DNA and we consider them as a prerequisite for the new post pandemic era.” Also commenting on AEGEAN’s increased equity stake, Animawings Founder and Memento Group’s President, Cristian Pandel, added,
“Animawings is ready to pass in the second phase of growth and I am very confident that expanding the partnership with AEGEAN will bring many benefits in the sense of imposing our company as a top player in the local and regional aviation market. AEGEAN’s involvement will continue and increase in the next period, bringing support and know-how to all Animawings departments through specialists with extensive experience in various aviation specific processes and systems.”
Over the past 12 years, Christian Tour has been an important customer for AEGEAN, operating charter flights between Romania and Greece. In summer 2022, Animawings will operate three aircraft sourced from the AEGEAN fleet, supporting charter and scheduled leisure travel from Romania. AEGEAN will oversee operational support for Animawings, while commercial support for the airline will continue to be primarily carried out by Memento Group.
Source(s): AEGEAN, Animawings