Page 98 - Annual Report 2015 EN
P. 98
Financial Statements
5.29 Related parties transactions
Athens International Airport S.A. is a privately managed Company, having as major shareholders the
Greek State and AviAlliance Group, each one of them holding more than 20.0% of the shares as at 31
December 2015.
The Company had undertaken related party transactions with a company controlled by its current
Private Shareholder, by receiving specific services. Furthermore, the Company provides either
aeronautical or non-aeronautical services to public sector controlled entities and at the same time,
receives services from public entities i.e. fire protection, medical etc. The above goods/services/works
are based on corresponding market’s terms and conditions. The transactions with the Greek State
and the current Private Shareholder have as follows:
a) Sales of services and rental fees
Sales of services 2015 2014
Greek State 13,321,586 11,824,476
Total 13,321,586 11,824,476
b) Purchases of services 2015 2014
5,584,841 5,641,192
Purchases of services
Greek State 16,772 6,270
AviAlliance Group 5,601,613 5,647,462
Total
c) Year end balances arising from sales/purchases of services and rental fees
Year end balances arising form sales/purchases of services and rental fees 2015 2014
Trade and other receivables:
Greek State 5,576,912 4,163,029
Trade and other payables:
AviAlliance Group 16,772 0
Total 5,593,684 4,163,029
d) Key management compensation
Key management includes personnel authorised by the Board of Directors for planning, directing and
controlling the activities of the Company. Compensation paid or payable to key management for employee
services rendered is shown below:
Analysis of BoD and key management compensation 2015 2014
Board of directors’ fees 484,080 476,400
Short-term employment bene ts of key management 1,645,430 2,184,186
Total BoD and key management compensation 2,129,510 2,660,586
Financial Statements as at 31 December 2015 (Amounts in Euros unless otherwise stated)
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5.29 Related parties transactions
Athens International Airport S.A. is a privately managed Company, having as major shareholders the
Greek State and AviAlliance Group, each one of them holding more than 20.0% of the shares as at 31
December 2015.
The Company had undertaken related party transactions with a company controlled by its current
Private Shareholder, by receiving specific services. Furthermore, the Company provides either
aeronautical or non-aeronautical services to public sector controlled entities and at the same time,
receives services from public entities i.e. fire protection, medical etc. The above goods/services/works
are based on corresponding market’s terms and conditions. The transactions with the Greek State
and the current Private Shareholder have as follows:
a) Sales of services and rental fees
Sales of services 2015 2014
Greek State 13,321,586 11,824,476
Total 13,321,586 11,824,476
b) Purchases of services 2015 2014
5,584,841 5,641,192
Purchases of services
Greek State 16,772 6,270
AviAlliance Group 5,601,613 5,647,462
Total
c) Year end balances arising from sales/purchases of services and rental fees
Year end balances arising form sales/purchases of services and rental fees 2015 2014
Trade and other receivables:
Greek State 5,576,912 4,163,029
Trade and other payables:
AviAlliance Group 16,772 0
Total 5,593,684 4,163,029
d) Key management compensation
Key management includes personnel authorised by the Board of Directors for planning, directing and
controlling the activities of the Company. Compensation paid or payable to key management for employee
services rendered is shown below:
Analysis of BoD and key management compensation 2015 2014
Board of directors’ fees 484,080 476,400
Short-term employment bene ts of key management 1,645,430 2,184,186
Total BoD and key management compensation 2,129,510 2,660,586
Financial Statements as at 31 December 2015 (Amounts in Euros unless otherwise stated)
55 of 56
