PRESS RELEASE

Nine-Month 2018 Trading Update

10.8 million passengers and 13% net earnings growth

Kifissia, 27 November 2018

AEGEAN announces 2018 9-month results with consolidated revenue at €939.3m, 5% higher than 2017. Pre-tax earnings rose 14% to €115.8m and net earnings after tax were up 13% to €80.9m.

During the 9-month period to September 30, 2018, AEGEAN and its subsidiary Olympic Air, carried 10.8m passengers, 6% more than the previous year, with 4.8m in domestic and 6m in the international network. Total passengers from/to Athens hub traveling on international routes increased by 12%. Load factor improved to 83.6% from 82.9% in 2017 as a result of efficient revenue and network management.

During the third quarter, revenue increased to €483.6m, 9% up compared to 2017. Pre-tax earnings increased by 4% to €134.1m while net earnings were 3% higher compared to last year at €94.7m, despite the significant rise of fuel costs which stood at 27% for the quarter even after the effect of hedging.

http://www.aegeanair.com/-/media/abo...27_9m18_ir.pdf