Aegean: Shares fall below €13 - Vassilakis (CEO) messageAegean Airlines SAATHEX:AEGNkgougakisAegean is bracing for a challenging 2026, with management warning that geopolitical tensions in the Middle East and persistently high energy costs are creating an especially difficult environment, particularly in the first half of the year. The stock has fallen to €12.92, slipping below the €13 threshold as well, a move that reflects the pressure currently weighing on the share. The decline is unfolding against a broader backdrop of weakness in the market, where negative sentiment and heightened investor caution are fueling sell-offs and curbing appetite for risk. Speaking at the company’s general shareholders’ meeting, chairman Eftichios Vassilakis said the initial plan had called for a 7% to 8% increase in available capacity. However, developments in the wider region, which directly affect around 6% of the airline’s network, together with adjustments made between April and June, are now leading to more subdued expectations. Based on current data, growth is ultimately expected to come in at 4% to 6%. At the same time, the sharp rise in fuel prices is adding significant pressure, intensifying strain across the broader aviation sector. Although Aegean has hedged roughly 60% of its fuel needs, the remaining 40% is still directly exposed to market volatility. According to management, with fuel prices remaining about twice as high as last year, the additional burden in the first half is estimated at between €40 million and €65 million. A similar picture is expected in the second half of the year, provided prices remain at current levels. Under that scenario, the total cost impact for 2026 could reach €90 million to €115 million, even after the effect of hedging. The company notes that without this policy in place, the financial burden would have been far greater.