Aegean Airlines
Greece's flag carrier and largest airline by passengers, destinations and fleet size.
Last updated August 21, 2026
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Overview
Aegean Airlines S.A. is Greece's flag carrier and the country's largest airline by passenger volume, destinations served and fleet size. Headquartered at Athens International Airport, the airline operates scheduled and seasonal charter passenger services from Greece to domestic destinations, Europe, the Middle East, Africa and selected longer-haul markets. Its principal hubs are Athens International Airport, Thessaloniki's Macedonia International Airport and Larnaca International Airport in Cyprus, supplemented by seasonal bases at other Greek airports. The airline traces its corporate development to the mid-1990s, when it took over activities associated with Aegean Aviation. It initially operated VIP services using Learjet aircraft before entering scheduled commercial aviation in May 1999 with routes from Athens to Heraklion and Thessaloniki. The company expanded through fleet renewal, partnerships and the acquisition of Air Greece in 1999. Cooperation with Lufthansa began in 2005, followed by agreements with TAP Air Portugal, Brussels Airlines and other carriers. Aegean was accepted into Star Alliance in 2009 and formally joined in June 2010, giving its customers access to a wider international network and alliance benefits. A defining strategic event was the attempted combination with Olympic Air. A first proposed merger was blocked by the European Commission in 2011 because officials considered that it would create a near-monopoly in Greek domestic aviation. Aegean later agreed to acquire Olympic Air in 2012. The European Commission approved the transaction in October 2013 after concluding that Olympic Air was likely to leave the market independently because of its severe financial difficulties. Aegean took over Olympic's non-public-service-obligation routes in February 2014, while the Olympic brand continued to be used for selected operations. Aegean has progressively moved toward an all-Airbus fleet. It ordered A320neo-family aircraft in 2018, received its first A320neo in December 2019 and its first A321neo in September 2020. The order was subsequently expanded, including A321LR aircraft intended to support longer-range services. The airline also introduced a redesigned blue-and-white identity inspired by Greek geography, architecture and design heritage. Its customer proposition combines domestic connectivity, access to Greek leisure destinations, European and regional international service, Star Alliance connectivity, business lounges and the Miles+Bonus loyalty program. The COVID-19 pandemic caused substantial disruption to the airline industry and led the European Commission to approve €120 million in Greek state aid for Aegean in December 2020. The aid was repaid in full by March 2023. Beyond scheduled flying, Aegean provides seasonal charter services in cooperation with tour operators and operates executive aviation services through Aegean Executive. Its present brand position is that of a Greece-centered full-service network airline linking the country's cities and islands with major international markets.
History
Aegean Airlines developed from the activities of Aegean Aviation and was established as a company in 1995. Its earliest operations were VIP flights from Athens using wholly owned Learjet aircraft. The transition to scheduled commercial aviation came in May 1999, when Aegean began flying from Athens to Heraklion and Thessaloniki with British Aerospace Avro RJ100 aircraft. Later in 1999, it acquired Air Greece, helping broaden its position in the domestic market. During the 2000s, Aegean expanded its network and commercial relationships. The airline entered a partnership with Lufthansa in 2005 and signed cooperation agreements with TAP Air Portugal and Brussels Airlines. It also established codeshare relationships with several international carriers. Fleet development increasingly centered on Airbus narrow-body aircraft, while turboprop operations were phased out by 2004. In 2005, the airline ordered Airbus A320 aircraft, beginning a longer-term transition toward a standardized Airbus fleet. Aegean's international status grew when its Star Alliance application was approved in 2009. It became a full Star Alliance member in June 2010. The alliance membership gave the airline access to a broader global distribution and connection network while reinforcing its appeal to business travelers and frequent flyers. The relationship with Olympic Air shaped the next stage of the company's history. A proposed merger announced in 2010 was blocked by the European Commission in January 2011, which argued that the combined airline would control an excessive share of Greek domestic air travel and could raise fares or reduce service quality. Aegean returned with an acquisition proposal in 2012. After an in-depth review, the Commission approved the transaction in October 2013, citing Olympic Air's continuing financial difficulties and the likelihood that it would leave the market even without the acquisition. From February 2014, Aegean took over Olympic's non-public-service-obligation routes; both names continued to appear in the market for some operations. The airline pursued major fleet renewal in the late 2010s. In 2018 it ordered 20 A320neo and 10 A321neo aircraft, with the order later expanded. Its first A320neo was delivered in December 2019 and entered commercial service in February 2020, while the first A321neo arrived in September 2020. Aegean also introduced a new logo and livery using a modern blue-and-white Greek visual language. The COVID-19 pandemic disrupted Aegean's operations and finances. In December 2020, the European Commission approved a €120 million Greek state-aid measure connected with pandemic losses. According to the cited reference, the aid was fully repaid by March 2023. The airline continued developing its passenger proposition after the pandemic, including fleet-wide or partial Wi-Fi installation, expansion of longer-range Airbus variants and continued use of Athens, Thessaloniki and Larnaca as principal operating bases. It also operates seasonal charter services and executive aviation offerings in addition to its scheduled network.
- 2022
Wi-Fi rollout announced
[1]Aegean announced Wi-Fi installation for the A320neo family and selected older aircraft.
- 2020
First A321neo delivered
[1]Aegean received its first A321neo during its fleet modernization program.
- 2020
COVID-19 state aid approved
[1]The European Commission approved a €120 million state-aid measure related to pandemic losses.
- 2019
First A320neo delivered
[1]The first A320neo with the redesigned livery and cabin was delivered.
- 2018
Airbus neo order announced
[1]Aegean ordered 30 A320neo-family aircraft for fleet renewal.
- 2014
Olympic route operations transferred
[1]Aegean took over Olympic Air's non-public-service-obligation routes.
- 2013
Olympic Air acquisition approved
[1]The European Commission approved Aegean's acquisition of Olympic Air.
- 2011
First Olympic Air merger rejected
[1]The European Commission blocked the proposed merger because of competition concerns.
- 2010
Joins Star Alliance
[1]Aegean became a Star Alliance member in June.
- 2009
Star Alliance application approved
[1]Star Alliance approved Aegean's membership application.
Products and positioning
A Greece-centered network airline combining domestic and island connectivity with European, regional international and selected longer-haul services, supported by full-service amenities and Star Alliance membership.
Passenger air transport · 1999
Domestic scheduled passenger flights
Scheduled services linking Athens, Thessaloniki, Greek islands and other cities across Greece. This domestic network is central to Aegean's role as the country's flag carrier and supports both resident travel and tourism flows.
Passenger air transport · 1999
International scheduled passenger flights
Scheduled flights from Greek and regional bases to European, Middle Eastern, African and other international destinations. The service combines point-to-point travel with connections through Aegean's principal hubs and Star Alliance partners.
Charter air transport
Seasonal charter flights
Seasonal A320-family charter operations conducted with tour operators, connecting Greek holiday destinations with markets including the United Kingdom, Germany, France, Italy, Scandinavia, Central Europe and Israel. The airline has also operated special charter flights for sports teams.
Frequent-flyer program
Miles+Bonus
Aegean's loyalty program, also used by Olympic Air, with Blue, Silver and Gold tiers. It provides mileage earning and redemption features and interfaces with the benefits available through Star Alliance.
Executive aviation
Aegean Executive
A non-scheduled VIP and executive travel service using business aircraft, including Learjet and Gulfstream equipment. It complements Aegean's scheduled passenger operation with air-taxi and private-flight services.
Marketing campaigns
- 2019New brand identity and livery
Greece · International network
Aegean introduced a redesigned logo, aircraft livery and cabin presentation inspired by Greek skies, seas, architecture and design heritage. The identity retained the seagull motif while presenting it in a more contemporary blue-and-white form.
Outcome. The new identity was introduced alongside the delivery of the first A320neo and became the visual expression of the fleet-renewal program.
Brand decisions
2022
In-flight Wi-Fi rolloutProduct launchBackground
Aegean sought to extend onboard digital connectivity across its narrow-body fleet.
Action taken
The airline announced Wi-Fi installation across the A320neo family and selected older A320ceo aircraft, offering free introductory access, messaging, browsing and streaming packages.
Aftermath
Connectivity became an additional passenger-service feature on equipped aircraft.
2020
Pandemic state-aid supportOtherBackground
COVID-19 caused major losses and operational disruption across the airline sector, including Aegean.
Action taken
The European Commission approved a €120 million Greek state-aid measure in December 2020 to compensate pandemic-related losses.
Aftermath
The aid was repaid in full by March 2023, according to the cited reference.
State aid. €120 million approved (December 2020)
2018
A320neo-family fleet renewalProduct launchBackground
Aegean sought to modernize its predominantly Airbus narrow-body fleet and improve operating efficiency.
Action taken
The airline firmed an Airbus order for 20 A320neo and 10 A321neo aircraft, with additional aircraft later added to the plan.
Aftermath
The first A320neo was delivered in December 2019 and the first A321neo in September 2020; later plans included A321LR aircraft for longer-range routes.
2013
Acquisition of Olympic Air approvedM&ABackground
Aegean proposed acquiring Olympic Air after the earlier merger attempt had been blocked. The Commission assessed the transaction against Olympic's continuing financial difficulties and market position.
Action taken
The European Commission approved the acquisition on 9 October 2013.
Aftermath
Aegean took over Olympic's non-public-service-obligation routes in February 2014, while the Olympic brand remained in use for certain services.
2011
Abandonment of first Olympic Air merger proposalM&ABackground
The European Commission concluded that combining Aegean and Olympic Air would create a near-monopoly in Greek domestic air transport and could lead to higher fares and lower service quality.
Action taken
The Commission prohibited the proposed merger after reviewing the airlines' offered remedies, including the proposed release of airport slots.
Aftermath
Aegean later pursued a different transaction structured as an acquisition, which was approved in 2013 after a further investigation.
Recent events
Aegean Airlines appoints Michalis Kouveliotis as CEO, succeeding Dimitris Gerogiannis[3]
Reported:
Aegean Airlines appointed Michalis Kouveliotis as Chief Executive Officer effective 12 October 2026, succeeding Dimitris Gerogiannis, who stepped down after 20 years leading the Greek carrier and remains as a Management Advisor overseeing the Technical Base and Training Center. Kouveliotis previously served as the airline's Chief Financial Officer and took on the additional role of Deputy CEO in early 2025 to prepare for the planned transition. The change aligns with other recent senior executive appointments at the airline, including the promotions of Stella Dimaraki to Chief Financial Officer and Ilias Mandroukas to Chief Commercial Officer, both effective 1 October 2026.
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