Athens International Airport S.A. (AIA) was established in 1996 as a Public-Private Partnership with a 50-year concession agreement. Ratified initially by Greek Law 2338/95 and at a later stage by Law 4594/2019 , the concession agreement grants the right to use the airport site for the purpose of the “design, financing, construction, completion, commissioning, maintenance, operation, management and development of the airport”. AIA is a privately managed company, with the Greek State holding 55% of shares, while the private shareholders collectively hold 45%.
AIA is a pioneer international Public-Private Partnership, being the first major greenfield airport with the participation of the private sector. The cost for the development of the airport was financed mainly from bank loans – with European Investment Bank being the major lender, while the remaining funding was provided through private shareholders equity and EU and Greek State grants.
With a corporate goal to create sustainable value to all stakeholders by offering value-for money services, AIA has a successful developmental strategy, in both its aeronautical and non-aeronautical sectors. Offering one of the most advanced incentive and marketing support schemes, AIA ensures the sustainability and development of domestic, regional and international traffic, working closely with home carriers and international carriers, legacy airlines and LCCs. In the non-aeronautical sector, AIA boasts advanced and extensive development initiatives from the high-quality consumer-related products offered at its commercial terminals, to its real estate assets. AIA’s IT & Telecommunications system and business activities are stellar examples of technological and business expertise. True to its industry, AIA exports the company’s pioneering know-how to aviation partners around the world.
AIA’s competitive advantages can be summarised as follows:
- 24-hour operations from two independent runways and ample airside and terminal capacity
- No delays on the ground or in the air
- State-of-the-art technology and equipment
- Highest standards in safety and security
- Efficient transfers offering a seamless and pleasant experience
- Advanced cargo facilities operating on a 24-hour basis at dedicated, bonded terminals
- Opportunities for new routes
- Attractive incentive schemes for the airlines
As a responsible company, AIA follows a balanced, stakeholder-focused approach, in accordance with the international standards and best practices. AIA’s corporate responsibility perspectives are defined in the areas of airport operator, corporate citizenship, environmental and employer responsibility.
Thanks to its value-for-money services, Athens International Airport has earned numerous international awards and distinctions. Today, it forms a unique entrepreneurial entity of economic and social development in the Attica region. The airport community employs over 16,000 people and hosts approximately 370 companies, making it one of the largest employment engines in Greece. In fact, a relevant study by the Foundation for Economic & Industrial Research published in 2019, showed that AIA contributes to the national and local economy by 4.4% of the GDP.
As a result, AIA has managed to record a healthy financial performance since 2001 and has delivered financial and non-financial value to all stakeholders involved. Although the airport has been impacted by the sovereign financial crisis, the company has addressed the market challenges. It protects its financial performance without jeopardising the quality of its services and safe and secure operations. As a result, AIA continues to deliver substantial value to all stakeholders and the Greek Economy and will remain an asset with a positive outlook for the future.