Management of the Mediterranean demersal stocks has proven challenging mainly due to the multi-species character of the fisheries. In the present work, we focus on the multi-species demersal fisheries of the Aegean Sea (eastern Mediterranean) aiming to study the effects of different management measures on the main commercial stocks, as well as to explore the economic viability of the fisheries depending upon these resources, by means of simulated projections. Utilizing the limited available data, our results demonstrated that, under the current exploitation pattern, the economic viability of the fleets is threatened, particularly if fuel prices increase. Additionally, the biological targets set for the most exploited species, such as hake, will not be met under the current management regime. The projections also showed that the only management scenario under which both resource sustainability and economic viability of the fisheries are ensured is the decrease of fleet capacity in terms of vessel numbers. In this case, however, measures to support the fisheries-dependent communities need to be implemented to prevent the collapse of local economies due to employment decrease. Scenarios assuming selectivity improvements would be also beneficial for the stocks but they showed low economic performance and their application would threaten the viability of the fleets, particularly that of the trawlers.