Athens International Airport S.A.

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Athens International Airport S.A.
Company type
Chairman)[1]
ProductsAirport operations and services
Revenue€382.23 million (2021)[2]
€282.44 million (2021)[3]
€158.81 million (2021)[4]
Total assets€2.224 billion (2021)[5]
Total equity€990.28 million (2021)[6]
OwnerHRADF (55%)
AviAlliance (40%)
Copelouzos Family (5%)[7]
Number of employees
14.345 (2021)[8]
Websitewww.aia.gr

Athens International Airport S.A. or AIA is the airport authority that owns and manages Athens International Airport.[9]

History

AIA was created in 1996 with the Greek government as a majority stakeholder (55%) and Hochtief holding 45% of the capital. AIA received a 250 million-fund from the EU to build the new Athens airport[10] Operations of the Athens International Airport started March 29, 2001. In 2004, it was declared European airport of the year.[11] The airport was built in preparation for the 2004 Summer Olympics.[12] AIA holds a 30-year concession on the Athens airport, concession that will expire in 2026.[13]

In October 2012, AIA launched the largest unified

photovoltaic installation at any airport worldwide, an 8 MWp and 160,000 square meter project that cost 20 million euros and is expected to provide 20% (11 million kWh) of the airport's annual energy consumption.[14]

In March 2013, AIA reduced its airport fees (the highest in Europe then) in a move to increase traffic.[15] Ryanair publicly attacked the airport operator and its high fees, arguing that those were to be blamed for the drop of air traffic in recent years.[16]

In May 2013, Hochtief sold its 40% stakes of AIA to Canada's Public Sector Pension Investment Board (PSP Investments) for 1.1 billion euros.[11][17]

In February 2014, a Chinese consortium consisting of FPAM and the

Shenzhen Airport company expressed its intention to buy the 55% shares held by the Greek government.[18][19]

In September 2014, a Greek court found that Hochtief did not pay VAT in Greece for more than 20 years, holding the German company accountable for reimbursing 500 million euros to the Greek government,[20] even though a British court ruled in favor of Hochtief in March 2013.[11][17]

In the midst of the Greek government-debt crisis, Europe has constantly advised the Greek government to privatize AIA SA, yet political resistance has led this recommendation unenacted.[21]

In June 2019, Greece's

First State Investments, Global Infrastructure Partners and a consortium of Ardian Infrastructure Fund S.C.A., Sicar and Ardian Infrastructure Fund V B S.C.S. SICAV – RAIF, another consortium of KKR-EGIS and a consortium of MEIF 6 Attic Investment, RAFFLES INFRA HOLDING and Chengdong Investment Corporation.[23]

References

  1. ^ "Annual & sustainability Report 2021".
  2. ^ "Annual & sustainability Report 2021".
  3. ^ "Annual & sustainability Report 2021".
  4. ^ "Annual & sustainability Report 2021".
  5. ^ "Annual & sustainability Report 2021".
  6. ^ "Annual & sustainability Report 2021".
  7. ^ "Annual & Sustainability Report 2021".
  8. ^ "Annual & sustainability Report 2021".
  9. ^ "The Airport Company". Aia.org. Retrieved 2016-06-13.
  10. ^ "Subject: Financing for the new Athens airport". Europa.eu. Retrieved 2016-06-13.
  11. ^ a b c "HOCHTIEF sells Athens Airport stake to Canada's Public Sector Pension Fund". Keeptalkinggreece.com. 7 May 2013. Retrieved 2016-06-13.
  12. ^ "Greece aviation and tourism - Part 2: Airport privatisation prospects improve as the market grows". Centreforaviation.com. 13 August 2015. Retrieved 2016-06-13.
  13. ^ "Athens International Airport". Hradf.com. Archived from the original on 2016-06-17. Retrieved 2016-06-13.
  14. ^ "Athens International begins operation of the world's largest airport photovoltaic installation". Greenaironline.com. 12 October 2012. Retrieved 2016-06-13.
  15. ^ George Georgakopoulos (14 March 2013). "Athens Airport lowers fees, hoping to draw more flights". Ekathimerini.com. Retrieved 2016-06-10.
  16. ^ Alexandra Kassimi (25 April 2013). "Ryanair fires shots in air battle with Athens Airport". Ekathimerini.com. Retrieved 2016-06-13.
  17. ^ a b Costas Efimeros (6 October 2014). "How much did the Hochtief-managed Athens airport dodge in taxes? €12, 150 or 600 million?". Thepressproject.gr. Retrieved 2016-06-13.
  18. ^ Abed Alloush (7 March 2014). "Chinese Consortium Interested in Purchasing Athens Int'l Airport". Greekreporter.com. Retrieved 2016-06-13.
  19. ^ Nikoleta Kalmouki (17 February 2014). "Plans to Turn Athens Airport into Transit Hub". Greekreporter.com. Retrieved 2016-06-10.
  20. ^ Sotiria Nikolouli (29 September 2014). "German Company is Top Tax Evader in Greece". Greekreporter.com. Retrieved 2016-06-13.
  21. ^ Angeliki Koutantou; Susan Fenton (29 February 2016). "Greece to start talks on extending Athens airport concession within days". Reuters.com. Retrieved 2016-06-13.
  22. ^ "Greece launches process to sell 30 percent stake in Athens Airport AIA". euronews. 2019-06-28. Retrieved 2019-10-31.
  23. ^ Καραγιάννης, Νίκος (2019-10-29). "Ten investment schemes submit Expression of Interest for the Athens International Airport". ypodomes. Archived from the original on 2019-10-31. Retrieved 2019-10-31.
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