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Tag: Piraeus

Alstom Introduces the Citadis X05 Tram to Athens, Greece

Alstom is proud to deliver the first two of the 25 Citadis X05 trams ordered by Attiko Metro, the urban transport authority of Athens, in July 2018. The tram will begin dynamic tests at the end of September before being put into passenger service in February 2021. 

The 25 trams will run on the city’s existing network, as well as on any planned extensions. The delivery of the last tram is expected by the end of May 2021. 

“Alstom is proud to bring its latest generation of tram to Athens. By providing reliable and modern rolling stock, we commit to supporting the development of urban transport in Athens, to further increase the capacity and availability of the existing lines and their extensions,” said Stavros Vlachos, Managing Director Alstom Greece.

In addition to the manufacturing and supply of the trams, Alstom is also responsible for the on-site testing, training and warranty services, as well as spare parts for the vehicles. These are Alstom’s first trams sold in Greece, after the company provided 28 metro trains in early 2000 for the first Athens Metro project.

The modern Citadis X05 trams will supplement the existing fleet of light rail vehicles for use on the network in Athens and Piraeus. This latest generation from the Citadis range offers superior passenger experience, with 20% more glass surfaces, LEDs for soft, homogeneous lighting, large individual seats, and travel information on large screens via a telematic system. The five-section trams will be 33 metres long, with a capacity of 294 passengers. Double doors along the entire length of the tramway ensure enhanced accessibility. 

The Citadis X05, the latest version of the Citadis range, boasts a number of new technologies, including permanent magnet motors for higher efficiency, as well as optimised HVAC (heating, ventilation and air-conditioning), which together reduce its energy consumption by 25%. Simplified sub-system integration and maintenance decrease lifecycle costs, while the tramway is 97% recyclable. To date, Citadis X05 has been sold in cities such as Sydney, Paris, Nice, Avignon, Caen, Lusail, Frankfurt and Athens.

2,700 vehicles of the Citadis range have been sold in 60 cities worldwide. Citadis trams have covered over 1 billion kilometres and transported 10 billion passengers since the first tram entered service in 2000.

Aegean Airlines Sets 7-Year Bond Issue for Fleet Renewal

* Aegean aims to raise up to 200 mln eur from sale

* Bond issue set for March 5-7

* Up to 147 mln euro to fund down payments for new planes

ATHENS, March 4 (Reuters) – Greece’s largest carrier Aegean Airlines will proceed with a sale of bonds on March 5-7 to raise up to 200 million euros ($226.86 million) for down payments on new Airbus aircraft and the construction of a new pilot training centre.

According to the public offering prospectus, about 30 percent of the issue will be allocated to retail investors, while 70 percent will go to “qualified investors”.

The seven-year bonds, each with a nominal value of 1,000 euros, will pay a semi-annual coupon. In Greece interest payments are taxed at 15 percent. Trading of the bonds on the Athens stock exchange will start on March 13.

Pricing will be determined via book building.

Aegean, a member of the Star Alliance airline group, will use 75 percent of the proceeds to partly finance down payments on new aircraft based on a deal with Airbus to renew its fleet of single-aisle planes and add capacity for future expansion.

Aegean picked Airbus in March last year for an order of up to 42 aircraft worth $5 billion in one of the biggest investments by a private Greek company since the country’s debt crisis erupted in 2010.

The down payments are due from the first quarter through to the last quarter of 2023 for new generation A320neo and A321 Airbus jets.

Deliveries of the new planes are expected to start in the first half of 2020 and conclude by the end of 2024.

Aegean has picked U.S. engine maker Pratt & Whitney to power the new A320neo aircraft and provide engine maintenance.

The carrier plans to use 14 percent of the proceeds or up to 27.5 million euros to build a new 12,000 square metre training centre with flight simulators for its flight crews at the Athens International Airport (AIA).

About 11 percent of the proceeds or up to 21.6 million will be used as working capital.

Piraeus Bank and Eurobank are the joint coordinators and bookrunners with Alpha Bank and Euroxx Securities the lead underwiters. Euroxx Securities was the issue adviser.

($1 = 0.8816 euros)

(Reporting by George Georgiopoulos; editing by Emelia Sithole-Matarise)

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