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01. Joint Address by the
Chairman and the CEO
Loukas K. Papazoglou - Chairman of the Board of Directors For the global aviation market, 2009 was another year of
worldwide financial recession and turmoil, characterised by
IATA as the worst ever for the airline industry. Global passenger
demand was down by 3% compared to 2008, while Europe
was the continent that suffered the sharpest decline, with
an average -6% drop.
However, despite the challenging industry conditions and
the Athens market’s developments with the suspension of
Olympic Airlines’ operation and the launch of the privatized
Olympic Air with a reduced network, Athens International
Airport achieved a satisfactory end-year result outperforming
most of its European counterparts, with the number of flights
recording significant growth, and passenger traffic witnessing
only a marginal loss. Based on sound planning, the Airport
Company continued to implement consistently its airline and
route development strategy, and pursued further its non-
aeronautical and external business activities, in a spirit of
cooperation and solidarity with its business partners. The solid
revenue streams from both aeronautical and non-aeronautical
activities, and the reinforced cost control applied in 2009, were
the key contributors to AIA’s positive financial results for the
year. At the same time, Athens International Airport remained
committed to social responsibility, focusing on the creation of
value for all its stakeholders and society at large.
Traffic and Aviation Business Highlights
With 16.2 million passengers in 2009, Athens International
Airport passenger traffic recorded a small decline (-1.5% as
against 2008), placing the airport in the 2nd place amongst
major European airports with the least passenger traffic
decline in the year (European average at -5.9%). Results were
mostly driven by the strong dynamics of the domestic carriers,
registering an increase both in flights and capacity, including
the introduction of Athens Airways, a new Greek carrier
that entered dynamically the domestic market in February
2009. While the domestic sector posted a historical record
with 6.1 million passengers (+5.2% vs. 2008), international
traffic, despite suffering an annual decline of 5.1%, showed
signs of recovery in the second half of the year. Furthermore,
Athens International Airport was the only major European
airport with an increase in flights in 2009. With the European
average at -7.3%, Athens International Airport’s total number
of flights amounted to 210,000, recording a significant growth
of +5.4% vs. 2008.
During 2009, AIA offered direct scheduled services to 113
destinations (80 international) in 52 countries, serviced by 70
airlines. The airport added to its network 6 new destinations
Chairman and the CEO
Loukas K. Papazoglou - Chairman of the Board of Directors For the global aviation market, 2009 was another year of
worldwide financial recession and turmoil, characterised by
IATA as the worst ever for the airline industry. Global passenger
demand was down by 3% compared to 2008, while Europe
was the continent that suffered the sharpest decline, with
an average -6% drop.
However, despite the challenging industry conditions and
the Athens market’s developments with the suspension of
Olympic Airlines’ operation and the launch of the privatized
Olympic Air with a reduced network, Athens International
Airport achieved a satisfactory end-year result outperforming
most of its European counterparts, with the number of flights
recording significant growth, and passenger traffic witnessing
only a marginal loss. Based on sound planning, the Airport
Company continued to implement consistently its airline and
route development strategy, and pursued further its non-
aeronautical and external business activities, in a spirit of
cooperation and solidarity with its business partners. The solid
revenue streams from both aeronautical and non-aeronautical
activities, and the reinforced cost control applied in 2009, were
the key contributors to AIA’s positive financial results for the
year. At the same time, Athens International Airport remained
committed to social responsibility, focusing on the creation of
value for all its stakeholders and society at large.
Traffic and Aviation Business Highlights
With 16.2 million passengers in 2009, Athens International
Airport passenger traffic recorded a small decline (-1.5% as
against 2008), placing the airport in the 2nd place amongst
major European airports with the least passenger traffic
decline in the year (European average at -5.9%). Results were
mostly driven by the strong dynamics of the domestic carriers,
registering an increase both in flights and capacity, including
the introduction of Athens Airways, a new Greek carrier
that entered dynamically the domestic market in February
2009. While the domestic sector posted a historical record
with 6.1 million passengers (+5.2% vs. 2008), international
traffic, despite suffering an annual decline of 5.1%, showed
signs of recovery in the second half of the year. Furthermore,
Athens International Airport was the only major European
airport with an increase in flights in 2009. With the European
average at -7.3%, Athens International Airport’s total number
of flights amounted to 210,000, recording a significant growth
of +5.4% vs. 2008.
During 2009, AIA offered direct scheduled services to 113
destinations (80 international) in 52 countries, serviced by 70
airlines. The airport added to its network 6 new destinations
