Page 11 - Annual Report 2013
P. 11
Annual Report 2013
This upturn is confirmed by the
recent airline developments. Our
home-carrier Aegean/Olympic
as well as numerous other airlines
have increased their capacity and
connections to a very significant
extent within 2014. Furthermore,
Low-Cost-Carrier Ryanair has based
two aircraft in Athens and since April
2014 has commenced operations
serving 6 domestic and international
destinations. This development
clearly reveals the increasing demand
potential at the Athens market, at
the same time certifying a dynamic
recovery of the Athens brand image.
This shift from a low capacity/high
yield market to a more rational balance
of capacity vs. demand will result in a
short- to mid- term passenger traffic
increase. Of course, the longer term
effect will be subject not only to the
macroeconomic developments but
also to the strategic plans of our key
carriers.
The uneven development of Western
European and North American
markets vs. those of Middle East and
Asia Pacific will continue to determine
the future of the global aviation market.
On the domestic front, the on-
going tender for the privatisation of
the main regional airports, as well as
the intended PPP development of
the Kastelli airport in Crete are likely
to have a wider effect on the Greek
aviation and business environment. At
the same time, AIA closely evaluates
both cases as potential investment
opportunities.
The Airport Company has
maintained an attractive value
proposition with potential for upside
development and continues to address
all market challenges by protecting
its business model in the areas of
revenues, costs and value-for-money
services. Finally, with the expressed
intention of the shareholders to
capitalise on the company’s value,
AIA is fully prepared to support these
endeavours.
Professor
Nickolaos G. Travlos Dr Ioannis N. Paraschis
Dr Ioannis N. Paraschis Chairman of the CEO
CEO Board of Directors
aia.gr / 11
This upturn is confirmed by the
recent airline developments. Our
home-carrier Aegean/Olympic
as well as numerous other airlines
have increased their capacity and
connections to a very significant
extent within 2014. Furthermore,
Low-Cost-Carrier Ryanair has based
two aircraft in Athens and since April
2014 has commenced operations
serving 6 domestic and international
destinations. This development
clearly reveals the increasing demand
potential at the Athens market, at
the same time certifying a dynamic
recovery of the Athens brand image.
This shift from a low capacity/high
yield market to a more rational balance
of capacity vs. demand will result in a
short- to mid- term passenger traffic
increase. Of course, the longer term
effect will be subject not only to the
macroeconomic developments but
also to the strategic plans of our key
carriers.
The uneven development of Western
European and North American
markets vs. those of Middle East and
Asia Pacific will continue to determine
the future of the global aviation market.
On the domestic front, the on-
going tender for the privatisation of
the main regional airports, as well as
the intended PPP development of
the Kastelli airport in Crete are likely
to have a wider effect on the Greek
aviation and business environment. At
the same time, AIA closely evaluates
both cases as potential investment
opportunities.
The Airport Company has
maintained an attractive value
proposition with potential for upside
development and continues to address
all market challenges by protecting
its business model in the areas of
revenues, costs and value-for-money
services. Finally, with the expressed
intention of the shareholders to
capitalise on the company’s value,
AIA is fully prepared to support these
endeavours.
Professor
Nickolaos G. Travlos Dr Ioannis N. Paraschis
Dr Ioannis N. Paraschis Chairman of the CEO
CEO Board of Directors
aia.gr / 11
