Financial Results for the Year 2021

In 2021, Athens International Airport (AIA) completed 20 years of successful operation. It was another challenging year for the Company and the aviation industry as a whole, due to the ongoing COVID-19 (coronavirus) pandemic crisis. The first half of the year was marked by the lockdown restrictions that were still in effect and, consequently, resulted to minimal passenger traffic. Despite the progressive improvement observed during the summer period, passenger traffic at Athens International Airport during the financial year 2021 amounted 12.35 million passengers, an increase of 52.8% as compared to 8.1 million passengers during the financial year 2020, however, a decrease of 51.7% as compared to 25.57 million passengers during 2019.

The impact of the pandemic was also profound on AIA’s financial performance. Total operating revenues reached €382.2million, better than 2020 by €196.0 million but still lagging against 2019 by €124.5 million. Nevertheless, and partly thanks to the significant cost containment measures, the Company managed to return to profitability; indeed, profits before tax reached €166.3 million, including compensation received by the Greek State for the operating losses incurred due to travel restrictions imposed to counter the pandemic. Furthermore, the Closing Cash of the Company, which is presently of even more critical importance, reached €381.6 million at year end.