The company has adopted the Principles of Corporate Governance in compliance with existing Greek legislation and international practices. Corporate Governance establishes a framework of rules, principles and control mechanisms based on which the company conducts its business with transparency, aiming at the protection of the interests of its shareholders as well as general corporate interests.

The Board of Directors of Aegean Airlines S.A. is the custodian of the Principles of Corporate Governance of the company. The Board of Directors is composed by three (3) executive and nine (9) non-executive members. Two (2) of the non-executive members are independent members, in compliance with the requirements of the Law 3016/2002.

The Audit Committee is composed by non-executive members of the Board of Directors and its goal is to objectively conduct internal audits and to ensure effective communication channels between the audit services and the Board of Directors. The responsibilities of the Audit Committee include ensuring the compliance with the regulatory framework of Corporate Governance and supervising over the internal audit operations.

The Internal Audit constitutes a basic and necessary stipulation of Corporate Governance. The Internal Audit department of Aegean Airlines S.A. is an independent organizational unit that is accountable to the Board of Directors of the company. Its duties include the evaluation and improvement of risk management and internal control systems as well as ensuring the compliance with the institutional policies and procedures as described in the Code of Conduct and existing legislation.