Athens International Airport, a partnership between Germany's Hochtief group and the Greek state, on Wednesday reported its first profits under international accounting standards (IFRS), opening the way for an initial public offering on the Athens stock exchange.
AIA said full-year pre-tax profits reached Euro96.3m on revenues of Euro357.5m, driven by strong commercial activity and higher passenger traffic. Germany's Hochtief group invested over 2.2 billion euros in the airport, hoping to create a southeastern European hub. Last year the airport saw an increase of 5.6% in passenger traffic, to close just over 15 million. While there have been demands to maybe operate a smaller charter flight only airport nearby, part of the concession agreement that Greece undertook in 1995, included not to open two military airports near the city to low-cost carriers.
DF: The summer timetable for AIA looks to be very busy. The airport has planned for an 11% increase from last summer's flight schedule to include 66 airlines which will be operating 1045 weekly scheduled flights. This will connect AIA to 82 international destinations (88 airports) in 50 countries.
posted on Wednesday, April 4
Athens/ Regional