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AEGEAN AIRLINES to launch Milan, Munich, Chios, Kos

AEGEAN AIRLINES continues to grow dynamically and to show constant improvement in performance of international and domestic flights. New destinations will be added to the network, frequencies will be increased and additional aircraft will join the fleet.

In the first 8 months of 2003, AEGEAN flew a total of 1.83 million passengers. This corresponds to a 14% increase versus the same period last year. On the Domestic Network the passenger growth was 12%, while Internationally AEGEAN flew 19% more passengers.

Starting with the new winter schedule in November 2003, AEGEAN AIRLINES will launch non-stop flights from Athens to Milan-Linate, Athens to Munich and from Kavala to Munich. Additional frequencies will be flown on the Athens-Rome route, to Frankfurt (increased to a daily service), Dusseldorf and Stuttgart. Domestically, AEGEAN will start flying twice daily to both Chios and Kos. With the addition of these two islands, AEGEAN effectively covers more than 90% of potential domestic travel needs.

With regards to the Italian market, AEGEAN offers the twice daily service to Rome, and daily service to Milan-Linate. In addition, a comprehensive code-share with Italian carrier Air One permits AEGEAN to offer onward connections to 5 destinations in Italy, making AEGEAN the best choice for flights to Italy.

To cover the increased capacity needs additional Boeing 737 jets will be joining the fleet.

“We continue to demonstrate excellent cost control and solid operational performance in the face of dynamic growth. Our goal is the continued expansion of our network with the addition of two more destinations abroad in the spring of 2004” said Theodoros Vassilakis, Aegean Airlines Chairman and CEO.

As a background reminder:

AEGEAN continues to seek permission from the Greek Government to add flights to Balkan destinations - Istanbul, Sofia, Belgrade as well as to Cairo and Larnaca. During 2002 AEGEAN achieved marginal operating profits by increasing turnover and reducing operating expenses. Judging from the present results, the expectation is that 2003 will be profitable.

AEGEAN AIRLINES:

  • In 4 years has carried 9 million passengers on 110.000 flights .

  • Operates 17 aircraft on scheduled and charter flights to 60 domestic and international airports.

  • Covers 14 destinations in Greece (Athens, Thessaloniki, Heraklion, Rhodes, Chania, Alexandroupolis, Kavala, Corfu, Mytilini, Ioannina, Santorini, Mykonos, Chios and Kos) and 11 international (Rome, Milan-Linate, Dusseldorf, Frankfurt, Munich, Stuttgart, Cologne, and via code-shares Genoa, Turin, Palermo and Venice.)

  • Has signed code-sharing agreements with Italy’s Air One and Alpi Eagles extending thus its network in the Italian market.

  • Its shareholders have contributed more that 122 million Euros in own capital.

  • Employs more that 1.300 expertly trained staff, with the primary target of offering top quality comprehensive services on the ground and in the air.

  • Is consistently ranked as the airline with the best on-time departures in Athens, a fact which has been acknowledged by Athens International Airport.

  • Is the only Greek airline, which has received an award from ERA.

  • Is the only Greek airline offering online-booking through www.aegeanair.com.

  • Offers a frequent flyer programme (Miles & Bonus).