Athens International Airport S.A.

Athens International Airport S.A. or AIA is the airport authority that owns and manages Athens International Airport.[5]

Athens International Airport S.A.
TypeS.A.
IndustryTransportation
Founded1996 (1996)
HeadquartersAthens International Airport, Spata, Greece
Key people
Ioannis Paraschis (CEO)[1]
Dimitrios Dimitriou (Chairman of the Board of Directors)[2]
ProductsAirport operations and services
Revenue €478.7 million (2018)[3]
€325.5 million (2018)[3]
€171.0 million (2018)[3]
Total assets €1.359 billion (2018)[3]
OwnerPublic/Private consortium[4]
  • Greek State: (55%)
  • AviAlliance: (40%)
  • Copelouzos Family (5%)
Number of employees
13,000
Websitewww.aia.gr

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[6] Operations of the Athens International Airport started March 29, 2001. In 2004, it was declared European airport of the year.[7] The airport was built in preparation for the 2004 Summer Olympics.[8] AIA holds a 30-year concession on the Athens airport, concession that will expire in 2026.[9]

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.[10]

In March 2013, AIA reduced its airport fees (the highest in Europe then) in a move to increase traffic.[11] 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.[12]

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.[7][13]

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.[14][15]

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,[16] even though a British court ruled in favor of Hochtief in March 2013.[7][13]

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 unachieved.[17]

In June 2019, Greece's HRADF invited schemes to submit an Expression of Interest (Phase A) for the acquisition of a 30% stake in Athens International Airport SA.[18] The deadline (initially until September 2019) expired on October 29, 2019 and ten investment schemes expressed their interest, including Groupe ADP, APG Asset Management, AviAlliance GmbH, Vinci Airports, Ferrovial international SE, 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.[19]

References
  1. "AIA Executives, Directors & Managers" (PDF). aia.gr. Retrieved 20 April 2019.
  2. "AIA Board of Directors" (PDF). aia.gr. Retrieved 20 April 2019.
  3. "Financial Statements 2018" (PDF). Athens International Airport S.A.
  4. "Shareholder structure" (PDF). Aia.org. Retrieved 2016-06-13.
  5. "The Airport Company". Aia.org. Retrieved 2016-06-13.
  6. "Subject: Financing for the new Athens airport". Europa.eu. Retrieved 2016-06-13.
  7. "HOCHTIEF sells Athens Airport stake to Canada's Public Sector Pension Fund". Keeptalkinggreece.com. 7 May 2013. Retrieved 2016-06-13.
  8. "Greece aviation and tourism - Part 2: Airport privatisation prospects improve as the market grows". Centreforaviation.com. 13 August 2015. Retrieved 2016-06-13.
  9. "Athens International Airport". Hradf.com. Archived from the original on 2016-06-17. Retrieved 2016-06-13.
  10. "Athens International begins operation of the world's largest airport photovoltaic installation". Greenaironline.com. 12 October 2012. Retrieved 2016-06-13.
  11. George Georgakopoulos (14 March 2013). "Athens Airport lowers fees, hoping to draw more flights". Ekathimerini.com. Retrieved 2016-06-10.
  12. Alexandra Kassimi (25 April 2013). "Ryanair fires shots in air battle with Athens Airport". Ekathimerini.com. Retrieved 2016-06-13.
  13. 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.
  14. Abed Alloush (7 March 2014). "Chinese Consortium Interested in Purchasing Athens Int'l Airport". Greekreporter.com. Retrieved 2016-06-13.
  15. Nikoleta Kalmouki (17 February 2014). "Plans to Turn Athens Airport into Transit Hub". Greekreporter.com. Retrieved 2016-06-10.
  16. Sotiria Nikolouli (29 September 2014). "German Company is Top Tax Evader in Greece". Greekreporter.com. Retrieved 2016-06-13.
  17. Angeliki Koutantou; Susan Fenton (29 February 2016). "Greece to start talks on extending Athens airport concession within days". Reuters.com. Retrieved 2016-06-13.
  18. "Greece launches process to sell 30 percent stake in Athens Airport AIA". euronews. 2019-06-28. Retrieved 2019-10-31.
  19. Καραγιάννης, Νίκος (2019-10-29). "Ten investment schemes submit Expression of Interest for the Athens International Airport". ypodomes. Retrieved 2019-10-31.
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