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CORPORAT E
RE S P ONS I BI L I T Y
REPORT 201 2
2.1 Corporate Strategy AIA applies corporate governance practices across its
operations. By reinforcing its organizational policies and
Athens International Airport aims to create sustainable procedures, the Company manages to develop a corporate
value for all identified stakeholders, while caring to culture founded on business ethics, committed to protecting
offer value-for-money services to its customers. This the rights of its shareholders and their interests.
objective is attained through the deployment of a two-
fold business strategy: A key factor for the successful implementation and
fulfillment of the Company’s objectives lies with the
• The aeronautical strategy, pursuing to sustain and grow operation of an Internal Control System. The efficiency
current traffic and customer base, and the focused and effectiveness of the related controls, contribute
development of regional hubbing and low-cost-carriers to safeguarding the shareholders’ interests and the
traffic, with an aim to outperform macroeconomic trends. Company’s assets.
• The non-aeronautical strategy entailing the development 2.2.1 Control Environment
of high-quality consumer-related products and services,
the exploitation and development of the airport’s assets The established control environment confirms the
and real-estate as well as the integration, management intention of Management and the Board of Directors
and advancement of IT&T systems together with exporting to secure discipline across the Company and reinforce
of know-how to targeted markets. control consciousness.
We operate in a socially and environmentally The Board of Directors, consisting of nine non-
responsible way and provide to our stakeholders an Executive members, acts in the best interests of the
operating and working environment that meets the Airport Company to promote the business of the
increasing demands on safety and security. Airport Company, in accordance with art. 8.2.e as well
as art. 12.1 of the Company’s Articles of Association
AIA’s Mission and art. 37.2 of the Airport Development Agreement.
The Board bears the responsibility for the management
A dynamic and best practice enterprise, for and administration of all corporate matters and affairs
managing and developing diverse airport activities and has, in this respect, delegated specific authorities
and creating sustainable value for our stakeholders to the Chief Executive Officer and the members of
and society in the Greek and international arena. Management respectively. Management informs
the Board of Directors through regular meetings
AIA’s Vision and reports. Specific Board Committees convene on
issues related to investment, budget and financial
to be the symbol for value creation and excellent customer management, personnel, corporate planning and
experience created by a vigorous and devoted airport team. audit. Within this framework, corporate responsibility
issues (such as environmental, safety, human-resources
We aim at being acknowledged as a role model related), are brought to the attention of the Board of
responsible Company within our markets and being able Directors. The Annual Ordinary General Meeting of the
to influence others to follow a path of sustainability. We Shareholders approves the actions and decisions of
embed the following corporate values across all aspects the Board of Directors, during the previous corporate
of our operation and development: fiscal year and releases the Board of Directors from any
responsibility from that year, in accordance with the
• Accountability Law 2190/1920 and the Airport Company’s Articles of
• Team Spirit Association. More information about AIA’s Board of
• Respect Directors is available in the Annual Report.
• Effectiveness
• Customer Focus The Audit Committee, in line with the internationally-
accepted corporate governance framework, assists
2.2 Corporate Governance the Company’s Board of Directors in the exercise of
the latter’s supervisory responsibilities by monitoring
The Airport Company abides by the provisions of the law on the financial information published by the Company,
Sociétés Anonymes (S.A.) (Law 2190/1920), as applicable, the controlling and monitoring the Internal and External
provisions of the Airport Development Agreement and Law audit systems and the internal controls system, in
2338/1995 (Government Gazette A’ 202/14.9.1995) which accordance with applicable provisions. In this respect,
defines, among others, the relations between shareholders.
09
RE S P ONS I BI L I T Y
REPORT 201 2
2.1 Corporate Strategy AIA applies corporate governance practices across its
operations. By reinforcing its organizational policies and
Athens International Airport aims to create sustainable procedures, the Company manages to develop a corporate
value for all identified stakeholders, while caring to culture founded on business ethics, committed to protecting
offer value-for-money services to its customers. This the rights of its shareholders and their interests.
objective is attained through the deployment of a two-
fold business strategy: A key factor for the successful implementation and
fulfillment of the Company’s objectives lies with the
• The aeronautical strategy, pursuing to sustain and grow operation of an Internal Control System. The efficiency
current traffic and customer base, and the focused and effectiveness of the related controls, contribute
development of regional hubbing and low-cost-carriers to safeguarding the shareholders’ interests and the
traffic, with an aim to outperform macroeconomic trends. Company’s assets.
• The non-aeronautical strategy entailing the development 2.2.1 Control Environment
of high-quality consumer-related products and services,
the exploitation and development of the airport’s assets The established control environment confirms the
and real-estate as well as the integration, management intention of Management and the Board of Directors
and advancement of IT&T systems together with exporting to secure discipline across the Company and reinforce
of know-how to targeted markets. control consciousness.
We operate in a socially and environmentally The Board of Directors, consisting of nine non-
responsible way and provide to our stakeholders an Executive members, acts in the best interests of the
operating and working environment that meets the Airport Company to promote the business of the
increasing demands on safety and security. Airport Company, in accordance with art. 8.2.e as well
as art. 12.1 of the Company’s Articles of Association
AIA’s Mission and art. 37.2 of the Airport Development Agreement.
The Board bears the responsibility for the management
A dynamic and best practice enterprise, for and administration of all corporate matters and affairs
managing and developing diverse airport activities and has, in this respect, delegated specific authorities
and creating sustainable value for our stakeholders to the Chief Executive Officer and the members of
and society in the Greek and international arena. Management respectively. Management informs
the Board of Directors through regular meetings
AIA’s Vision and reports. Specific Board Committees convene on
issues related to investment, budget and financial
to be the symbol for value creation and excellent customer management, personnel, corporate planning and
experience created by a vigorous and devoted airport team. audit. Within this framework, corporate responsibility
issues (such as environmental, safety, human-resources
We aim at being acknowledged as a role model related), are brought to the attention of the Board of
responsible Company within our markets and being able Directors. The Annual Ordinary General Meeting of the
to influence others to follow a path of sustainability. We Shareholders approves the actions and decisions of
embed the following corporate values across all aspects the Board of Directors, during the previous corporate
of our operation and development: fiscal year and releases the Board of Directors from any
responsibility from that year, in accordance with the
• Accountability Law 2190/1920 and the Airport Company’s Articles of
• Team Spirit Association. More information about AIA’s Board of
• Respect Directors is available in the Annual Report.
• Effectiveness
• Customer Focus The Audit Committee, in line with the internationally-
accepted corporate governance framework, assists
2.2 Corporate Governance the Company’s Board of Directors in the exercise of
the latter’s supervisory responsibilities by monitoring
The Airport Company abides by the provisions of the law on the financial information published by the Company,
Sociétés Anonymes (S.A.) (Law 2190/1920), as applicable, the controlling and monitoring the Internal and External
provisions of the Airport Development Agreement and Law audit systems and the internal controls system, in
2338/1995 (Government Gazette A’ 202/14.9.1995) which accordance with applicable provisions. In this respect,
defines, among others, the relations between shareholders.
09
