Aegean Airlines Invests €4 Billion in Fleet Expansion and Launches Direct India Routes

Greek carrier Aegean Airlines has announced a significant strategic initiative by committing €4 billion to expand its fleet with 60 new aircraft by 2031. This bold move underpins the launch of its first direct flights to India in March 2026, utilizing long-range Airbus jets to deliver superior travel experiences.

Ambitious Fleet Upgrade

The airline is set to integrate two Airbus A321neo XLR aircraft into its growing fleet, enhancing its order of Airbus A320/321neo models to a total of 60. These state-of-the-art machines, capable of operating up to 10.5 hours, are designed for routes extending beyond the European Union. Although the XLR variant carries a cost approximately 35 percent higher than the standard 321neo, it delivers an elevated level of passenger comfort and performance suited for long-haul operations.

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Direct Entry into the Indian Market and Beyond

With its inaugural routes to New Delhi and Mumbai, Aegean Airlines is strategically positioning itself in a market characterized by a rapidly growing traveler base. The expansion plan further envisions additional long-haul destinations such as Bangalore, the Seychelles, the Maldives, Nairobi, Almaty, and Lagos from 2027 onward. This approach not only diversifies its network but also capitalizes on the shifting dynamics of global air travel.

Infrastructure and Operational Excellence

The airline’s comprehensive strategy extends beyond fleet acquisition. Aegean is concurrently bolstering its infrastructure by developing advanced aircraft maintenance and training facilities. CEO Dimitrios Gerogiannis detailed that these efforts already serve two of Europe’s largest airline groups, with plans to allocate one-third of maintenance operations to third-party clients by the second year. Moreover, the doubling of its workforce from 1,878 in 2013 to 3,809 today, alongside targeted scholarship initiatives, underscores a commitment to fostering industry talent and operational resilience.

Collaborative Growth and Strategic Resilience

Chairman Eftychios Vassilakis emphasized the crucial role of government support in sustaining long-haul growth, citing the need for collaborative efforts with the Ministries of Tourism and Foreign Affairs to streamline visa processes and enhance airport infrastructure. Acknowledging prevailing geopolitical challenges, Vassilakis also stressed that Aegean’s focused investments and robust recovery post-crisis—mirroring the resilience shown during the pandemic—position the airline strongly for future market uncertainties.

As the dynamic nature of tourism demand continues to unfold, Aegean Airlines remains committed to evolving its operational strategy, ensuring extended seasonal services, enriched destination portfolios, and a firm investment in future-facing infrastructure.

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Cyprus Income Distribution 2024: An In-Depth Breakdown of Economic Classes

by THEFUTURE.TEAM

December 24, 2025

New findings from the Cyprus Statistical Service offer a comprehensive analysis of the nation’s income stratification in 2024. The report, titled Population By Income Class, provides critical insights into the proportions of the population that fall within the middle, upper, and lower income brackets, as well as those at risk of poverty.

Income Distribution Overview

The data for 2024 show that 64.6% of the population falls within the middle income class – a modest increase from 63% in 2011. However, it is noteworthy that the range for this class begins at a comparatively low threshold of €15,501. Meanwhile, 27.8% of the population continues to reside in the lower income bracket (a figure largely unchanged from 27.7% in 2011), with nearly 14.6% of these individuals identified as at risk of poverty. The upper income class accounted for 7.6% of the population, a slight decline from 9.1% in 2011.

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Income Brackets And Their Thresholds

According to the report, the median equivalent disposable national income reached €20,666 in 2024. The upper limit of the lower income class was established at €15,500, and the threshold for poverty risk was set at €12,400. The middle income category spans from €15,501 to €41,332, while any household earning over €41,333 is classified in the upper income class. The median equivalents for each group were reported at €12,271 for the lower, €23,517 for the middle, and €51,316 for the upper income classes.

Methodological Insights And Comparative Findings

Employing the methodology recommended by the Organisation for Economic Co-operation and Development (OECD), the report defines the middle income class as households earning between 75% and 200% of the national median income. In contrast, incomes exceeding 200% of the median classify households as upper income, while those earning below 75% fall into the lower income category.

Detailed Findings Across Income Segments

Upper Income Class: Comprising 73,055 individuals (7.6% of the population), this group had a median equivalent disposable income of €51,136. Notably, the share of individuals in this category has contracted since 2011.
Upper Middle Income Segment: This subgroup includes 112,694 people (11.7% of the population) with a median income of €34,961. Combined with the upper income class, they represent 185,749 individuals.
Middle Income Group: Encompassing 30.3% of the population (approximately 294,624 individuals), this segment reports a median disposable income of €24,975.
Lower Middle And Lower Income Classes: The lower middle income category includes 22.2% of the population (211,768 individuals) with a median income of €17,800, while the lower income class accounts for 27.8% (267,557 individuals) with a median income of €12,271.

Payment Behaviors And Economic Implications

The report also examines how income levels influence repayment behavior for primary residence loans or rental payments. Historically, households in the lower income class have experienced the greatest delays. In 2024, 27.0% of those in the lower income bracket were late on payments—a significant improvement from 34.6% in 2011. For the middle income class, late payments were observed in 9.9% of cases, down from 21.4% in 2011. Among the upper income class, only 3% experienced delays, compared to 9.9% previously.

This detailed analysis underscores shifts in income distribution and repayment behavior across Cyprus, reflecting broader economic trends that are critical for policymakers and investors to consider as they navigate the evolving financial landscape.

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