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2011 Outlook
2011 is another critical year for the Greek economy, with an expected GDP contraction, structural changes and continuing
efforts to improve the Greek State’s budgetary issues. No doubt, the Company’s short-term outlook will be influenced
by the macroeconomic situation. As a result of the economic downturn, AIA’s overall 2011 traffic will be affected by
the reduced travel demand of Greek citizens. Nevertheless, growth in the rest of Europe is expected to favour the
international segments of traffic. The prospects of the Athens city image and of Greek tourism at large are critical factors
for the developments in 2011.
During a turbulent year for the Greek economy and the Athens aviation market, where gradual restructuring and
repositioning of the two home-based carriers is expected, the Company projects a gradual market recovery towards the
second half of the year.
Crossing the midpoint of the existing concession period in 2011, as stated in Article 4 of the Airport Development
Agreement, the Greek State has expressed its intention to initiate discussions with AIA regarding the extension of the
period of the concession agreement and explore the best options for the Greek State’s shareholding in the Company.
Consequently, in 2011 we expect to undertake the relevant negotiations with the Greek State, aiming at agreeing on an
extended concession period under terms which will optimise value for the Company and its stakeholders.
Despite the difficult macroeconomic conditions in Greece, AIA continues to strengthen its status as a healthy corporate
entity, distinguished for the quality of its services, its financial performance and its social responsibility. In a period of
uncertainty, our Company continues to radiate optimism as a source of value for all stakeholders.
Prof. Stratos Papadimitriou Dr Yiannis N. Paraschis
A N N U A L R E P O R T 2 0 1 0 09
2011 is another critical year for the Greek economy, with an expected GDP contraction, structural changes and continuing
efforts to improve the Greek State’s budgetary issues. No doubt, the Company’s short-term outlook will be influenced
by the macroeconomic situation. As a result of the economic downturn, AIA’s overall 2011 traffic will be affected by
the reduced travel demand of Greek citizens. Nevertheless, growth in the rest of Europe is expected to favour the
international segments of traffic. The prospects of the Athens city image and of Greek tourism at large are critical factors
for the developments in 2011.
During a turbulent year for the Greek economy and the Athens aviation market, where gradual restructuring and
repositioning of the two home-based carriers is expected, the Company projects a gradual market recovery towards the
second half of the year.
Crossing the midpoint of the existing concession period in 2011, as stated in Article 4 of the Airport Development
Agreement, the Greek State has expressed its intention to initiate discussions with AIA regarding the extension of the
period of the concession agreement and explore the best options for the Greek State’s shareholding in the Company.
Consequently, in 2011 we expect to undertake the relevant negotiations with the Greek State, aiming at agreeing on an
extended concession period under terms which will optimise value for the Company and its stakeholders.
Despite the difficult macroeconomic conditions in Greece, AIA continues to strengthen its status as a healthy corporate
entity, distinguished for the quality of its services, its financial performance and its social responsibility. In a period of
uncertainty, our Company continues to radiate optimism as a source of value for all stakeholders.
Prof. Stratos Papadimitriou Dr Yiannis N. Paraschis
A N N U A L R E P O R T 2 0 1 0 09
