Page 56 - Annual_Report_2016
P. 56
Financial Statements aia.gr
Utilising social media to their fullest potential, Athens International Airport became the first airport in Greece
to offer a virtual tour of its premises on Google Street View and the Indoor Google Maps, providing users
with comprehensive information when travelling or visiting the airport.
Encouraging digital innovation and young entrepreneurship, AIA concluded its contest “Digital Gate:
Airport Innovation Challenge – Transforming the Airport Environment” which resulted in five companies
implementing their ideas in the real airport environment with great success. In cooperation with Athens
University of Economics & Busi¬ness, the scientific support of the Laboratory of Electronic Commerce and
Busi¬ness and Athens Centre for Entrepreneurship and Innovation, AIA organised this first competition
titled “Digital Gate”. The aim of the competition was to give young people the opportunity to promote their
innovation and design skills and support them in developing applications and new digital business.
Office Automation & Business Intelligence
The deployment of ‘Office 365’ encourages collaboration and mobility for AIA users via Cloud, as e-mail and
The deployment of ‘Office 365’ encourages collaboration and mobility for AIA users via Cloud, as e-mail and
Microsoft office applications are accessible from any device, anywhere, anytime.
Finally, AIA’s Management Information System (MIS) has been further enriched by including data from
various departments of the airport, enabling easier access to necessary statistical analysis.
2.6 Major Corporate Projects and developments
Terminal Facilities Capacity
At the end of July 2016 passenger terminal facilities reached their capacity “trigger point” (i.e. 18.9 million
passengers on a rolling twelve-month period which corresponds to 90% of the relevant capacity of 21 million
Annual Passengers). Therefore, in accordance with the provisions of the ADA, within 14 days from reaching
the trigger point AIA requested IATA to perform a passenger demand forecast of the next two years and to
determine whether, after allowing for any increase in the design capacity of any buildings or equipment, due to
technological, organisational or other improvements the relevant 90% threshold would still have been reached.
IATA’s independent review confirmed that following a timely implementation of specific capacity improvement
projects, the airport’s passenger terminal facilities will be able to handle at least a volume of 26 million Annual
Passengers, while providing at a minimum the IATA Level of Service “Optimum” at all terminal sub-systems
within the MTB and STB. Therefore, the 90% threshold of the new capacity has not been reached.
As ADA dictates, the results of the IATA study were subsequently communicated to the Greek State and the
revised annual capacity of the passenger terminal facilities was established accordingly.
Concession Extension
In December 2015, the Hellenic Republic Asset Development Fund (HRADF) invited AIA to enter into
discussions for the concession extension as prescribed in Article 4.2 of the ADA. At its meeting of March 2016,
AIA’s BoD finally approved the initiation of discussions and the exchange of data between technical teams.
Indeed, following BoD’s authorisation, AIA and its technical, legal and financial advisors exchanged
necessary information with the related teams of HRADF and entered into corresponding discussions for the
extension of the Airport Company’s concession period. In May 2017, the BoD of HRADF approved the draft
ADA Extension Agreement and invited AIA to submit its financial offer on the Concession Extension. AIA’s
financial offer was finally approved by the BoD of HRADF on 30 May 2017 and the offer was affirmed by the
Extraordinary General Meeting of AIA’s shareholders on 1 June 2017. Nevertheless, the Concession Extension
process is still underway and completion and effectiveness are subject to the execution of the agreements
and the satisfaction of all conditions contained therein.
3. Corporate Responsibility
ΑΙΑ follows a balanced stakeholder-focused approach for its sustainability objectives. Corporate
Responsibility is perceived as a structured governance system embracing international best practices with
respect to planning, implementing, measuring and transparently reporting its non-financial performance.
Related Corporate Responsibility policies are continuously updated in line with emerging requirements and
global standards.
Financial Statements as at 31 December 2016 (Amounts in Euros unless otherwise stated)
9 of 57
Utilising social media to their fullest potential, Athens International Airport became the first airport in Greece
to offer a virtual tour of its premises on Google Street View and the Indoor Google Maps, providing users
with comprehensive information when travelling or visiting the airport.
Encouraging digital innovation and young entrepreneurship, AIA concluded its contest “Digital Gate:
Airport Innovation Challenge – Transforming the Airport Environment” which resulted in five companies
implementing their ideas in the real airport environment with great success. In cooperation with Athens
University of Economics & Busi¬ness, the scientific support of the Laboratory of Electronic Commerce and
Busi¬ness and Athens Centre for Entrepreneurship and Innovation, AIA organised this first competition
titled “Digital Gate”. The aim of the competition was to give young people the opportunity to promote their
innovation and design skills and support them in developing applications and new digital business.
Office Automation & Business Intelligence
The deployment of ‘Office 365’ encourages collaboration and mobility for AIA users via Cloud, as e-mail and
The deployment of ‘Office 365’ encourages collaboration and mobility for AIA users via Cloud, as e-mail and
Microsoft office applications are accessible from any device, anywhere, anytime.
Finally, AIA’s Management Information System (MIS) has been further enriched by including data from
various departments of the airport, enabling easier access to necessary statistical analysis.
2.6 Major Corporate Projects and developments
Terminal Facilities Capacity
At the end of July 2016 passenger terminal facilities reached their capacity “trigger point” (i.e. 18.9 million
passengers on a rolling twelve-month period which corresponds to 90% of the relevant capacity of 21 million
Annual Passengers). Therefore, in accordance with the provisions of the ADA, within 14 days from reaching
the trigger point AIA requested IATA to perform a passenger demand forecast of the next two years and to
determine whether, after allowing for any increase in the design capacity of any buildings or equipment, due to
technological, organisational or other improvements the relevant 90% threshold would still have been reached.
IATA’s independent review confirmed that following a timely implementation of specific capacity improvement
projects, the airport’s passenger terminal facilities will be able to handle at least a volume of 26 million Annual
Passengers, while providing at a minimum the IATA Level of Service “Optimum” at all terminal sub-systems
within the MTB and STB. Therefore, the 90% threshold of the new capacity has not been reached.
As ADA dictates, the results of the IATA study were subsequently communicated to the Greek State and the
revised annual capacity of the passenger terminal facilities was established accordingly.
Concession Extension
In December 2015, the Hellenic Republic Asset Development Fund (HRADF) invited AIA to enter into
discussions for the concession extension as prescribed in Article 4.2 of the ADA. At its meeting of March 2016,
AIA’s BoD finally approved the initiation of discussions and the exchange of data between technical teams.
Indeed, following BoD’s authorisation, AIA and its technical, legal and financial advisors exchanged
necessary information with the related teams of HRADF and entered into corresponding discussions for the
extension of the Airport Company’s concession period. In May 2017, the BoD of HRADF approved the draft
ADA Extension Agreement and invited AIA to submit its financial offer on the Concession Extension. AIA’s
financial offer was finally approved by the BoD of HRADF on 30 May 2017 and the offer was affirmed by the
Extraordinary General Meeting of AIA’s shareholders on 1 June 2017. Nevertheless, the Concession Extension
process is still underway and completion and effectiveness are subject to the execution of the agreements
and the satisfaction of all conditions contained therein.
3. Corporate Responsibility
ΑΙΑ follows a balanced stakeholder-focused approach for its sustainability objectives. Corporate
Responsibility is perceived as a structured governance system embracing international best practices with
respect to planning, implementing, measuring and transparently reporting its non-financial performance.
Related Corporate Responsibility policies are continuously updated in line with emerging requirements and
global standards.
Financial Statements as at 31 December 2016 (Amounts in Euros unless otherwise stated)
9 of 57
