Page 41 - Annual Report 2013
P. 41
Annual Report 2013
Improvement
in the tourism flows
in Athens and Greece
in general.
Firstly, the economic conditions, which continue to suffer from the
sovereign crisis and recession; however certain of the economic
indicators show clear signs of stabilisation in view of a potential
upcoming recovery.
As a matter of fact, over the last months we have seen clear
indications of improvement in the tourism flows in Athens and
Greece in general, marking the re-emergence of Athens in particular
as a competitive and attractive tourism destination. This comes
after a series of blemishes in the city’s reputation and competitive
position. With tourism being the number one economic asset of the
country, as the recent study of McKinsey on the Greek economy has
shown, the foreseen realisation of major developments in the Attica
coastal line as well as on-going efforts for the advancement of the
city-break and cruise tourism sectors can have a very significant
long-term effect in the Athens destination market and of course, in
our airport’s traffic.
Airlines have Evidently, this upturn is confirmed by the recent airline
increased their developments. Our home-carrier Aegean/Olympic as well
capacity and as numerous other airlines have increased their capacity and
connections to a connections to a very significant effect within 2014. Furthermore,
very significant the Low-Cost-Carrier Ryanair has based two aircraft in Athens and
effect within 2014. has commenced operations since April 2014 serving 6 domestic
and international destinations. This development is clearly
demonstrating the increasing demand potential at the Athens
market certifying, at the same time the dynamic recovery of the
brand image of Athens.
This evident 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
We are at continue to determine the future of the global aviation market.
the juncture
of a turning On the domestic front, the on-going tender for the privatisation of
point towards the main regional airports, as well as the intended PPP development
recovery. 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.
To this effect, AIA’s recent Business Plan indicates that we are at
the juncture of a turning point towards recovery and it incorporates
healthy financial and business projections for the Airport Company
after a 5-year period of traffic and business contraction.
Nevertheless, this period has allowed companies like AIA, which
were built on healthy foundations, to be able to address the
challenges of the crisis and to become more efficient and more
effective.
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.
aia.gr / 41
Improvement
in the tourism flows
in Athens and Greece
in general.
Firstly, the economic conditions, which continue to suffer from the
sovereign crisis and recession; however certain of the economic
indicators show clear signs of stabilisation in view of a potential
upcoming recovery.
As a matter of fact, over the last months we have seen clear
indications of improvement in the tourism flows in Athens and
Greece in general, marking the re-emergence of Athens in particular
as a competitive and attractive tourism destination. This comes
after a series of blemishes in the city’s reputation and competitive
position. With tourism being the number one economic asset of the
country, as the recent study of McKinsey on the Greek economy has
shown, the foreseen realisation of major developments in the Attica
coastal line as well as on-going efforts for the advancement of the
city-break and cruise tourism sectors can have a very significant
long-term effect in the Athens destination market and of course, in
our airport’s traffic.
Airlines have Evidently, this upturn is confirmed by the recent airline
increased their developments. Our home-carrier Aegean/Olympic as well
capacity and as numerous other airlines have increased their capacity and
connections to a connections to a very significant effect within 2014. Furthermore,
very significant the Low-Cost-Carrier Ryanair has based two aircraft in Athens and
effect within 2014. has commenced operations since April 2014 serving 6 domestic
and international destinations. This development is clearly
demonstrating the increasing demand potential at the Athens
market certifying, at the same time the dynamic recovery of the
brand image of Athens.
This evident 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
We are at continue to determine the future of the global aviation market.
the juncture
of a turning On the domestic front, the on-going tender for the privatisation of
point towards the main regional airports, as well as the intended PPP development
recovery. 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.
To this effect, AIA’s recent Business Plan indicates that we are at
the juncture of a turning point towards recovery and it incorporates
healthy financial and business projections for the Airport Company
after a 5-year period of traffic and business contraction.
Nevertheless, this period has allowed companies like AIA, which
were built on healthy foundations, to be able to address the
challenges of the crisis and to become more efficient and more
effective.
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.
aia.gr / 41
