Aquarius did not die, because when lucy broke her gold key, she only became unable to leave the spirit world and travel to mage's world. From aquarius 's article on fairy. With the help of her many celestial spirit friends, lucy is one of the more versatile mages of fairy tail.
What episode does lucy breaks aquarius key? Episode 248 episode 248 |. As lucy calls forth the celestial spirit king and shatters the mermaid's key, aquarius begins to weep, silently stating that though she hates lucy, she will be sad to never meet her again.
On the final chapter of the manga, i remember lucy saying i want to search for aquarius's key! or sth similar to that. And noone asks what happened, guess that's the closest we'll be getting.
