THE ELLINIKON PROJECTLamda Development to Buy Four Non-navigational Aircraft Located on the Hellinikon Property

Lamda Development, through its subsidiary ELLINIKO MAE, has signed a contract with the Cultural Center of Olympic Aviation Employees (POLKEOA) for the purchase and sale of four non-navigational aircraft located on the Hellinikon property.

Chairman of the Board of Polkeoa V. Tsatsaragos (left) & Od. Athanasiou, CEO of Lamda Development. | Photo Source: Naftemporiki Official website

The aircraft, including Boeing 727, Boeing 737, Boeing 747, and BAC1-11, now belong to Lamda Development. The agreement marks a significant milestone in the relationship between the two parties and comes after months of negotiations to resolve the issue of removing the aircraft from the property.

Both HELLENIC MAE and POLKEOA view the agreement as a solid foundation for honoring the legacy of Olympic Aviation. As part of the agreement, a viability study will be conducted to explore the utilization of the Boeing 747 as a museum space. Furthermore, with its valuable experience, POLKEOA will contribute to the future establishment of a Civil Aviation Museum.

The Hellinikon project, considered the largest urban regeneration initiative in Europe, is being implemented while respecting the historical and cultural heritage of the region. This vision aligns with the longstanding commitment of POLKEOA, and the project aims to uphold and celebrate the tradition of the area.

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