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New incentives by AIA to airlines and new international routes by Aegean Airlines, in view of the summer season

Thursday, March 14, 2013 - With a common goal to create a favorable framework in the aviation market of Athens and further enhance passenger traffic, AIA and Aegean presented their initiatives for the summer season 2013.
In this context, AIA, as per its philosophy of risk-sharing, continues its enhanced policy of targeted incentives during summer 2013.

On the other hand, Aegean responding to the need of supporting tourism in Athens expands its service from AIA with 8 new international destinations, in accordance with its outward looking policy. The decision of the company to respond to the incentives offered by AIA is part of its strategic plan to continue investing in the country during a very difficult period when development and growth are the the main objectives both for tourism and the economy in general.

On the occasion of the announcement of the new financial incentives of AIA, Dr. Yiannis Paraschis, CEO of Athens International Airport, stated: "Airlines currently operate in an environment of uncertainty and volatility. Our aim is to share with them the entrepreneurial risk and actively support them. In this context, the targeted incentives scheme that we offer corresponds to discounts from 20% to 30% on AIA’s aeronautical charges. For any metropolitan airport, as well as for AIA the existence of a strong and viable home-based carrier operating from Athens  is extremely important It is only through cooperation and joint actions that we can expect and shape a more favorable operating framework for both the aviation market  and the enhancement of the city’s tourism product "

Mr. Eftichios Vassilakis, Vice President of Aegean, said accordingly: "Despite the crisis and the detrimental effects of recent years, we have to take steps in order to strengthen the Greek tourism. Only by openness and by economies of scale we can exit the crisis. In Aegean we look forward to synergies arising from the acquisition of Olympic Air, once approved by the Competition Commission. At the same time, we make the best out of the enhanced incentives policy of the Airport. So we are starting a significant expansion of our routes from AIA, by utilizing the capacity, which we necessarily reduce domestically because of the weak demand. After all, it is also the only strategy we can implement to reinvigorate not only our company but also the economy of Athens. "

Specifically, during the press conference, AIA presented its new policy incentives and actions to support airlines and Aegean Airlines gave details on the new routes.

AIA:

• The targeted incentives for summer 2013 (sustainability incentive, transfer incentive, load factor incentive and special markets enhancement incentive) are designed  in order to assist airlines in maintaining, at the extent possible, the number of flights, in sustaining  traffic in specific market sectors and in  capitalizing  on the potential of niche  markets.

AEGEAN:

• By adding 8 new routes from Athens, Aegean is further expanding its international flight network. By starting regular roots to Geneva, Manchester, Lyon, Kiev, Baku, Berlin, Warsaw and St. Petersburg, Aegean reaches to more than 40 total routes from Athens, 28 of which are international. Overall, from 180 routes of Aegean in Greece and Cyprus, 159 are international.

Intention of both companies is to develop and strengthen their close relationship through corporate and social responsibility actions for the wider public. Both AIA and Aegean have already undertaken significant activity in this area, focusing on the axes Child, Culture, Tourism and the promotion of Athens.

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