AEGEAN AIRLINES and tap agree co-operation

Monday, 27-03-2006

TAP Portugal, a member of Star Alliance and Aegean Airlines, a Greek private carrier, have recently established a commercial co-operation agreement including the operation of the routes Lisbon/Athens and Lisbon/Thessaloniki in code-share, beginning March 26, 2006, with significant benefits to be offered to both companies' Customers.

Through this agreement, which resulted from the close connectivity of both carriers‘ Networks, either TAP or Aegean will be able to place each other's code on their flights operating between Lisbon and Athens through Rome and between Lisbon and Thessaloniki through Munich and Frankfurt thus improving the service provided to their customers on these routes.

Continuously striving to meet its Customers higher expectations, AEGEAN keeps pursuing the enhancement of its Network along with the upgrade of its product as top priorities, as reflected in this joint operation with TAP, which reinforces the travel options made available to Customers between Greece and Portugal.

About Aegean Airlines

AEGEAN AIRLINES is the most dynamic airline in Greece, with an average annual growth rate of 20% during the past five years. It is the first Greek airline to introduce e-tickets and e-check-in services, and currently holds a 50% market share in its domestic market. It has been recognised by the ERA with the Golden Airline of the Year 2004/5 Award. AEGEAN offers flights to 15 Greek and 8 European destinations in Italy, Germany, Cyprus and Bulgaria. In addition through its cooperation with LUFTHANSA, initiated on 11/05, it offers its customers access to the global Lufthansa network.

AEGEAN carried 4.007.515 passengers on its 18 jet aircraft (737 300/400 and Bae RJ 100) in 2005. In 2006 the fleet is expanding to 21 aircraft and the operation to an average 120 flights per day with 4 additional destinations within the year. On December 2005 Aegean committed to buy and lease a total of 11 new Airbus A320 aircraft, with an option to purchase an additional 12. The new aircraft will replace the 737’s in Aegean’s fleet and will be used to expand its network within the region. For more information on AEGEAN AIRLINES please see its Web site at: www.aegeanair.com

About TAP Portugal

TAP Portugal is the leading Portuguese airline, which completed 60 years on March 14, 2005, the same day it became also a company - member of Star Alliance. Its Lisbon hub is a key European gateway at the crossroads of the African, North & South American continents, where TAP stands out as the leading European carrier operating to Brazil. TAP’ s current Network comprises 43 destinations in 25 countries world-wide, with an even greater range of destinations served by code-share operations with a number of partner airlines. Thus, TAP offers customers an extended and high flexible choice while providing them with the most convenient scheduled flights and easy connectivity onto further distant cities. The company operates 160 – 180 daily flights in average on a modern fleet of Airbus aircraft – the A.310, A.330 and A.340 for long haul and the A.319, A.320 and A.321. for the medium haul. TAP Portugal’s new Corporate Image was launched on February 1st., 2005, in time for the company' s 60th anniversary and its integration into Star Alliance. For more information on TAP Portugal please see its Web site at: www.flytap.com