Aegean Airlines named Michalis Kouveliotis as CEO on October 12, 2026. He replaces Dimitris Gerogiannis, who joined the carrier in 2001 and held the chief executive post for two decades.

Gerogiannis stays on as an adviser. His remit covers the Technical Base and Training Center. Aegean has earmarked both for the group's next development phase.

Kouveliotis takes the seat immediately. He served as Aegean's CFO for more than 20 years. He moved into the deputy CEO role in early 2025. The board used that two-year runway to audit the succession before sealing it on schedule.

Chairman Eftichios Vassilakis framed the change in founding-team terms. "Dimitris Gerogiannis, together with Theodoros Vassilakis, shaped the quality and customer service culture, as well as the principles of fairness and collaboration within our company," he said. "Dimitris has the rare ability to combine technical expertise with human approach," Vassilakis added.

"For all of us, he is a co-founder of the company, and this will not change with the handover of the CEO position," the chairman said. Vassilakis added that Gerogiannis will continue to support Aegean as the carrier moves from its founding leadership team to the next generation of executives.

What does this change for Aegean?

The board's messaging signals continuity rather than rupture. Aegean issued no fleet reset, route shift, or labor program alongside the CEO change. Two additional ATR 72-600s sit on order as of October 2025. ATR has not flagged delivery changes tied to the executive transition.

A finance-led successor matters at a flag carrier managing post-pandemic capacity discipline, fuel hedging exposure, and partner integration. Greek hub economics at Athens will set the near-term agenda. Kouveliotis will test his finance toolkit against fuel, labor, and tourism inputs first.

The carrier's earnings sensitivity to euro-denominated fuel and Greek summer tourism flows sets the new CEO's first-quarter scorecard. Kouveliotis inherits 20 years of finance continuity at a group now preparing its next development phase.

Vassilakis endorsed the internal pick without naming a strategic shift. "Michalis Kouveliotis has already demonstrated his ability to support the company through both periods of growth and crisis," he said. "Over the past two years, as Deputy CEO, he has led the transition process, while his positive energy and drive have already left a strong mark on the organization. I am confident that he will excel in his new role," Vassilakis added.

What the announcement leaves undisclosed

Aegean did not name a replacement CFO. The carrier also omitted any reference to board composition, executive compensation structure, or revised strategic priorities under the new CEO.

Gerogiannis's advisory tenure runs through an unspecified transition period. Aegean set no end date. The Technical Base and Training Center are his stated focus. The carrier described these units as the new development direction for the group.

The statement leaves open whether the outgoing CEO retains influence over commercial decisions during the handover or simply audits the engineering pipeline from a defined role. His 20-year tenure in the seat suggests non-trivial institutional weight.

The Vassilakis family, via chairman Eftichios Vassilakis, retains governance weight at Aegean. The CEO swap moves the executive bench from founding-era leadership to a finance-led successor. It does not telegraph a strategic pivot, capital allocation change, or new aircraft commitment.

Kouveliotis takes command as European network carriers absorb a slower post-recovery demand cycle and rising unit costs. The handover carries no public fleet commitment beyond the ATR 72-600 slots already booked. Aegean's next quarterly results will show whether the new CEO's finance-first orientation changes dividend policy or the pace of regional aircraft deliveries.