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01. Joint Address by the Chaiman and the CEO
focused on activities related to promoting sales and increasing consumer satisfaction, and its efficient implementation
safeguarded direct commercial revenues which were reduced in line with passenger traffic decline. Within this context,
new concepts were added to the retail services portfolio, affirming the robust nature of the Airport business, while a
number of refurbishments and brand changes were implemented at the Shopping Centre, in close cooperation with
the concessionaires. To further enhance retail performance, a series of marketing activities related to supporting sales,
significantly contributed to the picture of 2011. In the fields of real estate development, contrary to the general market’s
extended downturn in 2011, property revenues presented a relatively smaller decline compared to the previous year.
As a socially responsible operator, in 2011, ΑΙΑ followed a balanced, stakeholder-focused approach for action plans and
sustainability objectives, especially amid the adverse economic environment, with policies and procedures continuously
updated and in line with emerging changes in requirements and global best practice. Our focus expanded equally
across the operational, corporate and environmental responsibility, always in line with the strong commitment to the
development of AIA employees, a fundamental aspect for the company’s growth and success.
Specifically in the environmental field, we managed by following our specific Climate Change Corporate Action Plan,
to reduce AIA’s carbon footprint below 52,000 tonnes of CO2 in 2011, and successfully renewed our accreditation at
Level 2 (Reduction) in Airport Carbon Accreditation, the voluntary carbon management certification programme under
ACI Europe, in which AIA had a key role in the design and initial launch. Placing special emphasis on the challenges of
environmental protection, AIA increased recycling remarkably, from 3% in 2001, to more than 50% in 2011, a result that
was incentivised by the application of the “Polluter Pays” concept to waste management at the airport. The continuous
support to the Vravrona wetlands project, an area ‘adopted’ by AIA, by inaugurating a unique path for the visually
impaired, deserves to be highlighted.
At the same time, forming a milestone development, AIA’s 8MWp new Photovoltaic Park commenced operations in
mid-July being at the time of start of operations the second largest in Greece and the largest in an airport worldwide.
Reflecting AIA’s continuous and dynamic investment in environmental management and development, the inauguration
of the PV Park marks the outcome of the company’s long lasting efforts to introduce Renewable Energy Sources at the
airport. A project rising to approximately 20 million euros, the PV Park contributes significantly to the airport company’s
target of reducing the carbon footprint at its installations. The Photovoltaic Park is projected to produce 11 million kWh
annually, corresponding to almost 20% of the company’s electricity needs or 9% of airport community needs, and will
reduce CO2 emissions by at least 10,000 tonnes / year, for a period of at least 25 years.
Last but not least, another milestone for Athens International Airport was the completion of its 10 years of operations on
the 29th of March 2011, a decade marked by operational and business excellence, numerous accomplishments and awards
and characterized by challenging events. The airport’s 10th anniversary was celebrated with special events organized for
the entire airport community and the company’s personnel, while a special programme of Art and Culture activities and
events was implemented throughout 2011 in cooperation with very important cultural organizations.
2012 Outlook
The upcoming year is expected to be a particularly critical and challenging one, with the development of the Greek
macroeconomic crisis being the overwhelming issue. In 2012, GDP is expected to be negative for a fourth year in a row.
The successful fulfilment of major objectives for the restructuring of the Greek economy will be necessary to reduce short
and mid-term risks and to improve the economy’s outlook.
Within this adverse environment, we expect that in 2012 AIA will face a further reduction in traffic demand. The rapid
recovery of the European and global air travel is not expected to counterbalance the impact from reduced demand by
Greek travellers, from the tarnished image of the country for incoming tourism, or from the sharp decline in business
related travel.
In order to mitigate the effects of this demand-driven decline, the Airport Company will continue to make efforts for
cost containment for a fourth consecutive year, while safeguarding critical operations, airport’s safety and security and
maintaining the high quality of services provided.
8 Annual report
focused on activities related to promoting sales and increasing consumer satisfaction, and its efficient implementation
safeguarded direct commercial revenues which were reduced in line with passenger traffic decline. Within this context,
new concepts were added to the retail services portfolio, affirming the robust nature of the Airport business, while a
number of refurbishments and brand changes were implemented at the Shopping Centre, in close cooperation with
the concessionaires. To further enhance retail performance, a series of marketing activities related to supporting sales,
significantly contributed to the picture of 2011. In the fields of real estate development, contrary to the general market’s
extended downturn in 2011, property revenues presented a relatively smaller decline compared to the previous year.
As a socially responsible operator, in 2011, ΑΙΑ followed a balanced, stakeholder-focused approach for action plans and
sustainability objectives, especially amid the adverse economic environment, with policies and procedures continuously
updated and in line with emerging changes in requirements and global best practice. Our focus expanded equally
across the operational, corporate and environmental responsibility, always in line with the strong commitment to the
development of AIA employees, a fundamental aspect for the company’s growth and success.
Specifically in the environmental field, we managed by following our specific Climate Change Corporate Action Plan,
to reduce AIA’s carbon footprint below 52,000 tonnes of CO2 in 2011, and successfully renewed our accreditation at
Level 2 (Reduction) in Airport Carbon Accreditation, the voluntary carbon management certification programme under
ACI Europe, in which AIA had a key role in the design and initial launch. Placing special emphasis on the challenges of
environmental protection, AIA increased recycling remarkably, from 3% in 2001, to more than 50% in 2011, a result that
was incentivised by the application of the “Polluter Pays” concept to waste management at the airport. The continuous
support to the Vravrona wetlands project, an area ‘adopted’ by AIA, by inaugurating a unique path for the visually
impaired, deserves to be highlighted.
At the same time, forming a milestone development, AIA’s 8MWp new Photovoltaic Park commenced operations in
mid-July being at the time of start of operations the second largest in Greece and the largest in an airport worldwide.
Reflecting AIA’s continuous and dynamic investment in environmental management and development, the inauguration
of the PV Park marks the outcome of the company’s long lasting efforts to introduce Renewable Energy Sources at the
airport. A project rising to approximately 20 million euros, the PV Park contributes significantly to the airport company’s
target of reducing the carbon footprint at its installations. The Photovoltaic Park is projected to produce 11 million kWh
annually, corresponding to almost 20% of the company’s electricity needs or 9% of airport community needs, and will
reduce CO2 emissions by at least 10,000 tonnes / year, for a period of at least 25 years.
Last but not least, another milestone for Athens International Airport was the completion of its 10 years of operations on
the 29th of March 2011, a decade marked by operational and business excellence, numerous accomplishments and awards
and characterized by challenging events. The airport’s 10th anniversary was celebrated with special events organized for
the entire airport community and the company’s personnel, while a special programme of Art and Culture activities and
events was implemented throughout 2011 in cooperation with very important cultural organizations.
2012 Outlook
The upcoming year is expected to be a particularly critical and challenging one, with the development of the Greek
macroeconomic crisis being the overwhelming issue. In 2012, GDP is expected to be negative for a fourth year in a row.
The successful fulfilment of major objectives for the restructuring of the Greek economy will be necessary to reduce short
and mid-term risks and to improve the economy’s outlook.
Within this adverse environment, we expect that in 2012 AIA will face a further reduction in traffic demand. The rapid
recovery of the European and global air travel is not expected to counterbalance the impact from reduced demand by
Greek travellers, from the tarnished image of the country for incoming tourism, or from the sharp decline in business
related travel.
In order to mitigate the effects of this demand-driven decline, the Airport Company will continue to make efforts for
cost containment for a fourth consecutive year, while safeguarding critical operations, airport’s safety and security and
maintaining the high quality of services provided.
8 Annual report
