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01. Joint Address by the Chairman and the CEO
For the aviation industry worldwide, 2012 was marked the observed recovery trend being more apparent in the
by slow economic growth: Airlines around the globe international sector.
proceeded with consolidations and cost management
actions – eventually achieving profits yet with slim margins Amid these conditions, overall in 2012 64 carriers
- while airports recorded modest traffic rise, formulated connected directly Athens to 109 destinations (76 of which
by the strong growth of emerging economies versus the international) in 47 countries with scheduled services. The
slow development of Airport Company, within
more mature markets, the context of defending
such as the US and traffic volumes, containing
Europe. Europe’s airports traffic losses and assisting
overall demonstrated a airlines to sustain their
slow development with a operations to the extent
two-pace growth, as the possible, continued to offer
Eurozone crisis resulted in its Traditional Growth
a stagnant course of EU Incentive Scheme as
airports compared to a well as airline marketing
significant traffic increase support programmes. In
in non-EU airports. addition, AIA proceeded
with the introduction
In Greece, the critical of a series of targeted
state of the country was new measures clearly
the determining factor demonstrating its active
regarding the evolution engagement in supporting
of the aviation market in its airline–partners during
the course of the year, these critical times while
affecting both the airline helping them reduce their
offer and the travelling operating costs.
demand.
Further to the special
With the Greek GDP winter Low Fares incentive,
contracting by 6.4% and AIA also introduced
the private consumption for the summer period
index by 9.1%, the Greeks’ 2012 three significant
propensity to travel was targeted incentives, the
severely impacted, while Sustainability, Transfer, and
at the same time foreign Niche Routes Incentives,
visitors numbers were also aiming to sustain and
significantly reduced as protect flights and
a result of the tarnished traffic levels. Not only
image of Athens and Greece was the above Incentive
abroad in combination Scheme extended through
with the slow-down in the Winter 2012-2013
European economies. On period, but it was further
the supply side, both enriched with the Load
Greek and foreign carriers Professor Nickolaos G. Travlos Factor Incentive aiming
proceeded with extensive Chairman of the Board of Directors at encouraging airlines to
capacity cuts in order to achieve high load factors.
effectively accommodate the falling demand. All of the At the end of 2012, 14 different incentives were in place,
above resulted in the airport’s traffic decline by 10.4% in addressing both development & sustainability aspects,
passenger volumes and by 11.5% in aircraft movements. while 60% of the operating carriers, carrying 95% of AIA's
It is, however, important to point that deterioration traffic, made use of one or more of AIA’s targeted incentives
in passenger demand in the second quarter, mainly launched during the year.
attributed to the social and political circumstances amidst
the Greek elections period, was followed by a gradual In recognition of AIA’s consistent and dynamic support to
containment of losses in the last two quarters of the year, the airlines despite the country’s economic problems and
ANNUAL REPORT 2012
For the aviation industry worldwide, 2012 was marked the observed recovery trend being more apparent in the
by slow economic growth: Airlines around the globe international sector.
proceeded with consolidations and cost management
actions – eventually achieving profits yet with slim margins Amid these conditions, overall in 2012 64 carriers
- while airports recorded modest traffic rise, formulated connected directly Athens to 109 destinations (76 of which
by the strong growth of emerging economies versus the international) in 47 countries with scheduled services. The
slow development of Airport Company, within
more mature markets, the context of defending
such as the US and traffic volumes, containing
Europe. Europe’s airports traffic losses and assisting
overall demonstrated a airlines to sustain their
slow development with a operations to the extent
two-pace growth, as the possible, continued to offer
Eurozone crisis resulted in its Traditional Growth
a stagnant course of EU Incentive Scheme as
airports compared to a well as airline marketing
significant traffic increase support programmes. In
in non-EU airports. addition, AIA proceeded
with the introduction
In Greece, the critical of a series of targeted
state of the country was new measures clearly
the determining factor demonstrating its active
regarding the evolution engagement in supporting
of the aviation market in its airline–partners during
the course of the year, these critical times while
affecting both the airline helping them reduce their
offer and the travelling operating costs.
demand.
Further to the special
With the Greek GDP winter Low Fares incentive,
contracting by 6.4% and AIA also introduced
the private consumption for the summer period
index by 9.1%, the Greeks’ 2012 three significant
propensity to travel was targeted incentives, the
severely impacted, while Sustainability, Transfer, and
at the same time foreign Niche Routes Incentives,
visitors numbers were also aiming to sustain and
significantly reduced as protect flights and
a result of the tarnished traffic levels. Not only
image of Athens and Greece was the above Incentive
abroad in combination Scheme extended through
with the slow-down in the Winter 2012-2013
European economies. On period, but it was further
the supply side, both enriched with the Load
Greek and foreign carriers Professor Nickolaos G. Travlos Factor Incentive aiming
proceeded with extensive Chairman of the Board of Directors at encouraging airlines to
capacity cuts in order to achieve high load factors.
effectively accommodate the falling demand. All of the At the end of 2012, 14 different incentives were in place,
above resulted in the airport’s traffic decline by 10.4% in addressing both development & sustainability aspects,
passenger volumes and by 11.5% in aircraft movements. while 60% of the operating carriers, carrying 95% of AIA's
It is, however, important to point that deterioration traffic, made use of one or more of AIA’s targeted incentives
in passenger demand in the second quarter, mainly launched during the year.
attributed to the social and political circumstances amidst
the Greek elections period, was followed by a gradual In recognition of AIA’s consistent and dynamic support to
containment of losses in the last two quarters of the year, the airlines despite the country’s economic problems and
ANNUAL REPORT 2012
