Aegean Airlines : Announcement for the results of the Public Offer

AEGEAN AIRLINES S.A.

Announcement for the Results of the Public Offer

Piraeus Bank and Eurobank Ergasias S.A. in their capacity as Joint Coordinators and Bookrunners of the Public Offer for the Issue of a Common Bond Loan and the admission of the bonds of AEGEAN AIRLINES S.A. (hereinafter the "Company") for trading in the category of Fixed Income Securities of the Regulated Market of the Athens Exchange, following the completion of the Public Offer on 7 March 2019 and in accordance with the aggregated allocation results which have been produced by the Electronic Book-building service of Athens Exchange (Athex), announce that 200,000 common, bearer bonds of the Company with a nominal value of €1,000 each (the Bonds) have been allocated and the amount of €200,000,000 has been raised.

The total valid demand from investors that participated in the Public Offer reached €527.7m. The Public Offer was covered by 2.64 times given high participation from the investment public while the total number of participant investors reached 6,696.

The final yield has been set at 3.60%, the Bonds interest rate at 3.60% and the offer price of the Bonds at € 1,000 each, ie 100% of the nominal value.

The bonds allocation based on valid demand shown at the yield of 3.60% was as follows:

(a) 120,000 Bonds (ie 60% of issue) were allocated to Private Investors, of a total number of 311,475 Bonds that were requested (i.e. a percentage of 38.53% of the demand for this category of investors has been met), and

(b) 80,000 Bonds (40% of the issue) were allocated to Eligible Investors, of a total number of 196,583 Bonds that were requested (i.e. a percentage of 40.70% of the demand in this category of investors has been met).

In addition, Underwriters have received for their own account 12.500 Bonds, out of the 80,000 Bonds that were allocated to Eligible Investors as follows:

Underwriter	Allocated Bonds
Piraeus Bank and affiliates	5,747
EUROBANK ERGASIAS S.A. and affiliates	4,310
Investment Bank of Greece and affiliates	1,437
EUROXX Securities	719
ALPHA BANK S.A. and affiliates	287
Pantelakis Securities S.A.	-
Total	12.500

In accordance with the underwriting agreement, the Underwriters have not undertaken any commitment to subscribe for Bonds.

Athens, 12 March 2019