Page 18 - 2board23full
P. 18
04. Financial Performance
2011 was probably one of the most challenging years of Chart 4.1
operation for Athens International Airport. The extremely
unfavourable Greek macroeconomic environment along 2011 Revenue Structure
with the structural changes in the Greek aviation market:
a) the home-based carriers’ significant network rationalisation
and b) the increase of direct operations between regional
airports and international destinations, impacted heavily both
the demand and the supply of air travel.
Despite the adverse conditions, the company managed
to sustain healthy profitability as a result of continuing
efforts in the areas of both revenues and costs. Profit
before tax was recorded at €129.5 million compared to
€158.5 million in 2010. The following section provides an
overview of the company’s financial performance in 2011.
Operating Revenues & ADF
In 2011, AIA’s operating revenues, inclusive of the
company’s share from the Airport Development Fund
(ADF), showed a drop of 6.6%, from €406.4 million to
€379.5 million. Chart 4.1 shows the revenue breakdown.
18 Annual report
2011 was probably one of the most challenging years of Chart 4.1
operation for Athens International Airport. The extremely
unfavourable Greek macroeconomic environment along 2011 Revenue Structure
with the structural changes in the Greek aviation market:
a) the home-based carriers’ significant network rationalisation
and b) the increase of direct operations between regional
airports and international destinations, impacted heavily both
the demand and the supply of air travel.
Despite the adverse conditions, the company managed
to sustain healthy profitability as a result of continuing
efforts in the areas of both revenues and costs. Profit
before tax was recorded at €129.5 million compared to
€158.5 million in 2010. The following section provides an
overview of the company’s financial performance in 2011.
Operating Revenues & ADF
In 2011, AIA’s operating revenues, inclusive of the
company’s share from the Airport Development Fund
(ADF), showed a drop of 6.6%, from €406.4 million to
€379.5 million. Chart 4.1 shows the revenue breakdown.
18 Annual report
