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08. Future Prospects
2011 is admittedly a critical year for the Greek economy. It During this turbulent year for the Greek economy
is expected to be a year of negative GDP development, of and the aviation market, the company’s Management
structural changes and of continuing efforts to improve twice updated its business and financial mid and long-
the budget deficit and debt problem of the Greek State. term projections. Despite the unfavourable short-term
As such, the macroeconomic situation will have its outlook, the company anticipates a gradual market
influence on the Company’s short-term outlook. recovery, which will result in sustainable growth with
healthy financial projections, proving that the success of
Traffic in 2011 will be affected by the reduced travel AIA is based on the creation of a solid business model,
demand by the Greek population resulting from accompanied by a prudent and farsighted business and
recessionary phenomena. Nevertheless, the growth in operational strategy, which will enable AIA to maintain
the rest of Europe will favour the international segments its sustainable financial vigour through the difficult
of AIA’s traffic. The prospects of the city of Athens’ times ahead.
image and of Greek tourism in general, are critical factors
for the development of 2011 traffic. 2011 signals the midpoint of the existing concession
period. As foreseen in Article 4 of the Airport
The recent announcement by the European Commission Development Agreement, the Greek State has expressed
of the rejection of the Olympic-Aegean merger may signal its intention to explore the option of extending the period
developments in the Athens aviation market. Currently, we of the concession agreement with Athens International
are expecting a gradual adjustment by the two airlines to Airport, and to explore the best options for the Greek
the new situation and to broader market and economic State’s shareholding in the company. Consequently, in
conditions, through limited restructuring, a focus on specific 2011 we shall undertake the relevant discussion with the
markets, cost optimisation and network consolidation. Greek State, aiming at the agreement of an extended
concession period under terms which will increase value
As a result of the above, the Airport Company anticipates for all stakeholders. The Airport Company ensures that
an annual passenger throughput of 14.8 million for whatever the eventual outcome of these discussions,
2011, corresponding to estimated operating revenues of we will continue to perform at the level of excellence
€335 million. experienced so far.
2011 is admittedly a critical year for the Greek economy. It During this turbulent year for the Greek economy
is expected to be a year of negative GDP development, of and the aviation market, the company’s Management
structural changes and of continuing efforts to improve twice updated its business and financial mid and long-
the budget deficit and debt problem of the Greek State. term projections. Despite the unfavourable short-term
As such, the macroeconomic situation will have its outlook, the company anticipates a gradual market
influence on the Company’s short-term outlook. recovery, which will result in sustainable growth with
healthy financial projections, proving that the success of
Traffic in 2011 will be affected by the reduced travel AIA is based on the creation of a solid business model,
demand by the Greek population resulting from accompanied by a prudent and farsighted business and
recessionary phenomena. Nevertheless, the growth in operational strategy, which will enable AIA to maintain
the rest of Europe will favour the international segments its sustainable financial vigour through the difficult
of AIA’s traffic. The prospects of the city of Athens’ times ahead.
image and of Greek tourism in general, are critical factors
for the development of 2011 traffic. 2011 signals the midpoint of the existing concession
period. As foreseen in Article 4 of the Airport
The recent announcement by the European Commission Development Agreement, the Greek State has expressed
of the rejection of the Olympic-Aegean merger may signal its intention to explore the option of extending the period
developments in the Athens aviation market. Currently, we of the concession agreement with Athens International
are expecting a gradual adjustment by the two airlines to Airport, and to explore the best options for the Greek
the new situation and to broader market and economic State’s shareholding in the company. Consequently, in
conditions, through limited restructuring, a focus on specific 2011 we shall undertake the relevant discussion with the
markets, cost optimisation and network consolidation. Greek State, aiming at the agreement of an extended
concession period under terms which will increase value
As a result of the above, the Airport Company anticipates for all stakeholders. The Airport Company ensures that
an annual passenger throughput of 14.8 million for whatever the eventual outcome of these discussions,
2011, corresponding to estimated operating revenues of we will continue to perform at the level of excellence
€335 million. experienced so far.
