In response to Hellenic Capital Market Commission letter dated 27/3/13 with regards to recent development in Cyprus, Aegean Airlines announces the following:

a) The balance of the account held in Bank of Cyprus (Nicosia Branch) at 15/03/2013 amounted to €358,565 (0.2% of the company's cash reserves) ie €258,565 over the deposit guarantee limit.

b) The Company does not own securities or other financial instruments of the 2 Cypriot Banks (Bank of Cyprus and CBP).

c) The Company generates 6-7% of 2012 total turnover from the operation of routes from/to Cyprus, which is the base for 2 Aircraft.

δ) Part of the demand for airline services stems from incoming tourism and part from local demand which is expected to be impacted to a greater extent. The potential impact on the Company's turnover cannot be estimated as this will depend upon the duration and the intensity of economic recession in Cyprus.