Kifissia, 4 June 2020

Aegean Airlines S.A. (The Company) in response to Hellenic Capital Market Commission's letter, hereby clarifies the following.

The company, pursuant to its Board decision dated 22/2/2019, issued a Common Bond Loan of EUR 200m with a 7-year maturity. The Reports on the Use of Proceeds from the Common Bond Loan for the periods 12/3/2019-30/6/2019 and 12/3/2019-31/12/2019, are included in the notes of the Interim and Full Year Financial Statements respectively, ie in Notes 5.31 and 3.38, rather than presented in a separate section.

In addition, the Company notifies that as of 31/12/2019, remaining unutilized proceeds of E168,578.54 thousand were kept either in term deposits (59%) or in sight deposits (41%).