With 30 million passengers expected to pass through the Athens International Airport – AIA (IATA: ATH, ICAO: LGAV) by the end of 2024, the airport is well-positioned to receive this massive influx of tourists mainly due to the acquisition of four Airbus A321 neo-LR aircraft by Aegean Airlines (IATA: A3, ICAO: AEE), capable of offering trips that run for up to 7.5 hours. During the most recent annual general meeting, Yiannis Paraschis, the managing director of Athens International Airport, remarked that this strategic step will strengthen the airport’s connectivity with significant markets in Asia.
The airport’s management has upgraded its expectations for 2024, surpassing earlier estimates established during the listing process. This is in response to the astounding 16.5% rise in passenger traffic during the year’s first quarter. The new numbers indicate that thirty million passengers will use the airport’s terminals next year.
AIA welcomed 5.2 million people from January to March, representing a 16.5% rise over Q1 2023. Quarterly foreign arrivals were up 19.4%, and local data was up 10.3%. Flight numbers also increased by 12.8% in Q1.
The corporation’s management has also suggested that operational earnings (EBITDA) will continue to skyrocket, eventually reaching levels greater than 60% of the company’s revenues. In addition to maintaining a competitive pricing policy, maximizing results from aviation activities, and raising revenues from non-aviation activities, including building a new multi-floor parking lot and increasing commercial spaces by more than 60%, Paraschis said plans include reaching out to high-profile consumer markets, including the US, Canada, China, and India.
As part of this ambitious development, the airport is currently selecting a contractor to design the new extension. Seven architectural ideas have succeeded in advancing to the second stage of the worldwide competition, reflecting the magnitude and significance of the project.
There is an expectation that banks will provide financing for the initial phase of the 650 million euro development, and discussions are already in progress to ensure competitive conditions. As a result of its seamless integration of elegance, convenience, and unsurpassed connection for its valued visitors, the Athens International Airport Eleftherios Venizelos is well-positioned to revolutionize the travel experience.