There's no excuse for not refunding monies to which no legal claim exists. That is what Aegean is doing in cases of refundable tickets and/or flights canceled by Aegean.

And just for context - Airlines in Europe and North America by now have refunded me (and properly issued a few vouchers) tickets worth well over Euro 30,000.

The only outlier is Aegean which has owed me a refund for a refundable ticket for 100+ days.